ALBAWABA- This week was one of the more interesting weeks in 2023 so far, with the news that the failed exchange FTX is eyeing relaunch, Twitter plans to add a trading feature, and Ethereum's Beacon Chain upgrade is allowing withdrawals. Don’t hold your breath too long, your weekly crypto market recap is here so let's dive deep into it!
Ethereum's Shapella upgrade completed successfully
On April 12, the Ethereum blockchain's mainnet, commonly known as the Beacon Chain, implemented the Shapella hard fork. Fund withdrawals are now possible for people who have staked the network's Ether (ETH) asset.
According to Ethereum block explorer beaconchai.in, a total of 12,859 Ether were freed in 4,333 withdrawals during the first hour of the hard fork. ETH exceeded the $2,000 price point nearly a day after the upgrade.
FTX's Legal Team Hints at a Comeback with Over $7 Billion in Recovered Assets
The legal team of FTX, a bankrupt cryptocurrency exchange, has suggested a possible return for the company. During a court hearing on April 12th, FTX's lawyers disclosed that the firm had already retrieved about $7.3 billion in cash assets and was contemplating a potential relaunch of its crypto exchange services in the second quarter of 2024, possibly as early as April.
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The announcement triggered a surge in the value of FTX's token, FTT, by over 112%. Meanwhile, a Swiss court has given the green light for the sale of FTX's European operations.
Twitter to Introduce a Trading Feature
According to reports, Twitter is planning to debut a new tool that will allow users to trade stocks and cryptocurrency. Users will be able to browse market charts for a greater selection of financial instruments, as well as purchase and sell cryptocurrencies and other assets through eToro, Twitter's fintech partner. Elon Musk previously proposed that Twitter could become a "super app," giving consumers access to multiple web services in one place.
