Ethereum staking market warms up heavily ahead of update, BTC close to $30k

Bitcoin was relatively volatile last week, still looking for a breakout towards $30. The cryptocurrency dropped as low as $26 on eToro earlier in the week, then jumped close to $500 midweek but failed to sustain the rally towards $28. It is now trading in the same range it started last week at around $800.

Ethereum showed similar volatile moves, ending the week flat with lows of $1 and highs just above $680. This morning, it is trading around $1. While stock markets show early signs of returning to "bull territory", the general trend for cryptocurrencies looks similar with tokens going up again. While bitcoin will continue to test the 30k line dollars, we may need a stronger push to see it higher.

This week there are important updates from the US labor market that prices in the short term.

The ethereum staking market is heating up ahead of the update

Ethereum staking market clearly revives before the Shanghai updatewhich will be the biggest change in Ethereum networks since The Merge.

Major staking protocol tokens such as Lido and Rocket Pool, have jumped up as we get closer to the update. The market has generously rewarded investors willing to put aside their tokens, with over $2 billion in prizes given out starting in July 2021.

The big question now is how the market will behave once the Shanghai update is pushed through. It will potentially unlock many tokens that have been maturing for some time. We may see some short-term volatility, but the rewards are still up for grabs, so it could go either way.

Falling intensity of bitcoin issuance

One of the hottest debates since the protocol changes proof-of-staking the ethereum network, was the differentiation with the high energy consumption of the bitcoin network. It has been plagued by critics for its high power consumption for a while, but it looks like a change is taking place in cryptocurrency.

Data from Woo Charts, highlighted by climate activist and bitcoin investor Daniel Batten on Twitter, shows that bitcoin mining emission intensity is declining rapidly. This is mainly because miners are adopting greener energy production technologies to deliver new tokens to the network and validate transactions.

Bitcoin is still far behind Ethereum in terms of energy input and is unlikely to change significantly anytime soon. However, bitcoin proponents point out that, as with electric vehicles (EVs), it is not the product that is the problem, but the energy production used to create it. Some even go so far as to claim that adopting bitcoin will encourage greater uptake of green energy production, as it provides financial incentives for the transition to a clean energy economy.

Argentine airlines offer NFT tickets

NFT tickets have had quite a difficult period in terms of the market and image, but there are still new and interesting ways to use this technology. The most recent of these is the introduction of NFT tickets by the Argentine airline Flybondi.

Flybondi will allow customers to purchase tickets in NFT format, which will then be fully replaceable and changed by the holder. This means that if the customer no longer needs the ticket, they can exchange it for a friend's name or even sell it on the secondary market to someone who needs a flight.

While this is just one example, it demonstrates the potential consumer benefits of the NFT economy. Areas such as air travel routinely put passengers at the mercy of high fare companies and discourage anyone who might need to change plans. Giving control to consumers through digital property rights could offer a potentially profound shift in the balance of consumer power.