NFTs ARE NOT DEAD
Even though ETH at one point was down about 80% its all-time high but the little pop it had these few days, is probably down 65% to 70% from its all-time high. We are already flirting with a negative issuance and you know that nobody is left in the market besides the true believers in the crypto. Just think if ETH passes its all-time high again, just think about all that activities will do to ETH daily issuance. A new major update has just occurred, the Ethereum Shanghai Mainnet shadow fork has gone live, meaning Ethereum users are one step close to accessing the staked ETH. With that Shanghai upgrade, the full release is expected to launch by March but they have just completed a successful shadow fork. What we have just learned recently, they were able to withdraw the ETH in a few issues but overall successfully on the shadow fork before the Hard fork which is the official one.
Many industry leaders are articulating that while this Shanghai upgrade is just Ethereum staking, in general, will be so huge. Ethereum staking. Ethereum staking is the way to secure the network and as many people stake globally and the bigger it gets, the more secure it gets. Possibly, the biggest news for the main Ethereum side chain Polygon. If you hold Ethereum, we should address the Elephant in the room which is Bitcoin. It is the market mover and Grayscale which own so much Bitcoin, they also own so much Ethereum. There is now a date set for oral argument in Grayscale's appeal again the SEC ETF Bitcoin decision. Grayscale is suing the SEC and the date is set for early March. A Bitcoin ETF could essentially save Grayscale and save all those in GBTC. The next update we have on this is March 7 and you should know that this effect hundreds of thousands, if not millions of GBTC holders.
Fractal co-founder Justin Kan which also a co-founder of Twitch, and is so well respected tells Decrypt that a lot of game developers want to be on Polygon. The big question is, What does it bring to Polygon? A lot the gaming developers want to be on Polygon and it does turn out that Polygon ventures have also made an investment plan in Fractal. That a high reason they choose Polygon is that they are getting some funding to help excel.