Why did Ethereum explode above $2,000 🚀

Welcome to Coinsauce's daily crypto newsletter 🗞️ If you're a crypto enthusiast or just curious about the latest happenings in the world of digital currency, you've come to the right place. From Bitcoin to NFTs, we’ve got you covered with the latest developments in web3. So grab a coffee ☕, sit back, and let's dive into today's crypto happenings!

Today’s highlights include 👇

1. Tweet your Trades: Twitter partners with eToro for crypto and stock trading 😅

2. Ethereum bulls join the party - Shanghai Update Sends ETH Soaring past $2,000 🚀

3. Challenging the status quo - Brazilian President calls to end the dominance of USD in international trade ⏳

4. A step closer to mass adoption - London Stock Exchange announces clearing of Bitcoin derivatives 🙏

With no further time to waste, let's get right to the point!

Twitter and eToro bring cryptocurrency and stocks to your feed 💯

After temporarily replacing its iconic bird logo for doge, the social media giant has partnered with eToro to let its ~450 million users trade stocks and cryptocurrencies directly on the platform.

Twitter currently has a “cashtag” feature that allows users to view real-time trading data from various platforms. The new partnership will enable this feature to expand to include more instruments and asset classes, including trading crypto. The new feature is expected to be rolled out on the Twitter application today.

Musk has earlier revealed his intentions of converting Twitter into an “everything app” and “the biggest financial institution in the world”. Is social-fi going to be the next buzzword in crypto? 🤔 One thing is for sure, you can never underestimate Elon Musk!

Shanghai Sends Ethereum Skyrocketing Past $2,000 Mark 💪

Concerns about unstaked $ETH hitting the markets and causing a crash were put to a rest as Ethereum bulls showed extreme resilience in pushing the prices past the key $2,000 psychological resistance 🚀 (Whatever happened to influencers calling for a “buy the rumor, sell the news” event 😂)

Prices remained fairly persistent primarily due to the fact that majority of withdrawals were varying between just 2.8- 3.2 ETH, indicating that only staking rewards were mainly being withdrawn.

At the time of writing, validators withdrew a total of 126,955.07 ETH & 248,043 out of the 559,549 active validators (i.e 44% of them), can request a partial or complete withdrawal.

With bitcoin dominance being rejected off of the key 49% resistance & money starting to pour into ethereum instead, ethereum could likely outperform bitcoin in the short to medium term, especially if bitcoin sustains itself above $30,000 ❗

Pro tip - Traders can look out for “Liquid Staking Derivative” tokens for quick scalps or swing trades, as this narrative could likely gain momentum after the successful upgrade! (Not financial advice!)

The dollar’s reign as the global reserve currency continues to be tested 🙏

The US dollar may have been the star of international trade for a while now, but it seems like its authority is being challenged by a rising wave of voices calling for change.

Brazil's President, Luiz Inacio Da Silva, has recently joined the chorus, urging an end to the dollar's dominance in global commerce. And he's not alone - China has also been trying to diminish the prevalence of the dollar in international trade.

In a speech at Shanghai's New Development Bank, Lula Da Silva asked poignant questions like: "Why do all countries have to base their trade on the dollar? Why can't we trade based on our currencies? Who decided that the dollar was the currency after the disappearance of the gold standard?”

With BRICS making efforts to develop their alternative trade currency & China having already signed yuan-clearing deals with Brazil, Pakistan, Kazakhstan and Laos, we might be seeing the tide of world power shift right before our eyes! Exciting times ahead, folks ❗

Bitcoin derivatives get green light from London Stock Exchange ✅

London calling! 📞 The United Kingdom could see its first centrally cleared trading venue for digital asset derivatives due to a partnership between a London Stock Exchange Group (LSEG) and trading startup Global Futures and Options (GFO-X)! The services are planned to launch in as early as Q4 of this year. The services are planned to launch in as early as Q4 of this year! In a year where regulatory outcomes have been rather harsh for crypto, this comes in as a welcome sign for investors & institutions alike!

This move could potentially bridge the gap between TradFi and the crypto world, making it easier for investors to diversify their portfolios while enjoying the security and prestige of a renowned institution.

With a history spanning over 300 years, LSE should be no stranger to change and evolution! It's like a wise old grandpa trying out a new rollercoaster - late to the game, but still in it to win it 💪

Who would've thought we'd see the day when traditional finance and cutting-edge tech joined forces for afternoon tea ❗

Meme of the day

Traders after every 2% pump in crypto 😂

That's it for today's Coinsauce crypto roundup 💪 We hope you found our updates valuable and entertaining. Remember, crypto never sleeps, so tune in tomorrow for more action-packed news and analysis. Until then, HODL on, my friends❗

Disclaimer: This newsletter is for educational purposes only and does not constitute financial advice or an offer to buy or sell assets. You must exercise caution and conduct your research before making any financial decisions.