Monat: März 2023

Tanked NFT Trading Volumes Collapse; DappRadar Report Suggests

• The day after the Federal Deposit Insurance Corp. took control of Silicon Valley Bank, there were only 12,000 active NFT traders, according to DappRadar.
• Since the beginning of March, NFT trading volume has fallen 51%, with sales declining about 16%.
• Projects from NFT issuer Yuga Labs, including Bored Ape Yacht Club and CryptoPunks, saw their floor prices dip slightly on Saturday.

Tanked NFT Trading Volumes

The day after the Federal Deposit Insurance Corp. took control of Silicon Valley Bank, there were only 12,000 active non-fungible token (NFT) traders – a number not seen since November 2021 – according to DappRadar. Additionally, single NFT trades totaled 33,112 on that day – the lowest daily tally so far this year – and since the beginning of March, overall NFT trading volume has fallen by 51%, with sales declining about 16%.

Yuga Labs Project Performance

Projects from NFT issuer Yuga Labs fared better than most during this period: their floor prices dipped slightly on Saturday but recovered quickly afterwards. One Twitter user even compared CryptoPunks to USDC stablecoin in terms of stability; USDC had lost its peg to the U.S. dollar following Silicon Valley Bank’s collapse.

Animoca Brands Co-Founder Reacts

Animoca Brands co-founder and Executive Chairman Yat Siu reacted to this report and discussed his outlook for the Non Fungible Token market as well as broader state of Web3 technology; he also shared insights into Animoca’s backing of Nuqtah, Saudi Arabia’s first ever NFT marketplace platform.

Industry Outlook

While these numbers are concerning and paint a bleak picture for the current state of affairs in regards to Non Fungible Token markets and Web3 technologies generally speaking, industry experts remain optimistic that things will turn around in due time; given its rapid growth over such a short period thus far it isn’t difficult to understand why some view this momentary setback as an opportunity for innovation rather than cause for concern or despair.


Overall it appears that while recent events have caused significant disruption within the Non Fungible Token marketspace at present time many within the industry remain confident for a positive turnaround moving forward as new opportunities arise out of these unexpected circumstances allowing more innovative avenues through which individuals may engage with digital assets and blockchain technology alike in exciting new ways!

Bitcoin Sinks Below $21K, Silvergate Bank Shutdown Shakes Investors

• Bitcoin (BTC) dropped 6% in the past 24 hours to sink below $21,000 for the first time in seven weeks as investors continued to fret about the fallout from crypto-friendly bank Silvergate Bank’s implosion.
• Silvergate Capital (SI), the parent company of the lending focused bank, said that Silvergate Bank would „voluntarily liquidate“ its assets and shutter operations.
• Other major cryptocurrencies declined, with ether sinking 7%.

Bitcoin Dips Below $21K After Silvergate Bank Shutdown

Cryptocurrency markets were shaken as news of Silvergate Bank’s closure caused a ripple effect across other major coins. Bitcoin (BTC) dropped 6%, sinking below $21,000 for the first time in seven weeks as investors reacted to the news. Ether also experienced losses of 7%.

Silvergate Bank Shutdown

The crisis began when Silvergate Capital (SI), parent company of the lending focused bank, announced that it would be „voluntarily liquidating“ its assets and shutting down operations. This is expected to have a profound impact on crypto markets as customers scramble to find new sources of liquidity.

Reaction from Investors

Tactive Wealth Advisor Eddy Gifford shared his reaction to the news: “This remains a tough environment for crypto given the fallout from Silvergate’s closure.“ The sentiment was echoed by many other investors who are concerned about how this event could affect cryptocurrency prices going forward.

Consensus 2023 Conference

Head of Firmwide Research Alex Thorn will speak at Consensus 2023 on “Bitcoin and Inflation: It’s Complicated” — an important topic considering recent events and their potential impact on inflation rates around the world.


Overall, cryptocurrency markets have been shaken by news of Silvergate Bank’s closure and there are still many unanswered questions about how this event will affect prices going forward. With market volatility likely to remain high over the coming days, investors should proceed with caution until more information becomes available.

Shapella: Ethereum Developers‘ Name For Upcoming Upgrade

• Ethereum developers are referring to the upcoming hard fork as „Shapella“
• The upgrade is split between the execution and consensus layer, and referred to as Shanghai and Capella respectively
• Developers are merging the two names together to create „Shapella“

What Is Shapella?

Shapella is a clever way of referring to the upcoming hard fork of Ethereum. This upgrade is split between two layers, known as the execution layer (Shanghai) and consensus layer (Capella). By combining these two names, Ethereum developers have created the term ‘Shapella’.

What Are Execution and Consensus Layers?

Before Shapella, Ethereum underwent its last upgrade called Merge. This involved transitioning from a proof-of-work blockchain to a proof-of-stake chain. The proof-of-work chain was known as the execution layer while the proof-of-stake chain was known as the consensus layer. By merging these two chains together, developers created what we now know as Shapella.

When Will Shapella Happen?

The Shapella hard fork is expected by next month and will involve both Shanghai on the execution side, and Capella on the consensus side of Ethereum. It’s important for Ethereum users to stay informed about this upcoming update so they can prepare in advance for any changes it may bring.

What Does Shapella Mean For Crypto Traders?

Shapella will be an important event for crypto traders because it could lead to changes in price movements or trading strategies going forward. As such, traders should keep an eye out for updates regarding this hard fork so they can stay ahead of any new opportunities or challenges that may arise once Shapella goes live next month.


In conclusion, Shapealla is an important upcoming hard fork of Ethereum which involves both Shanghai on the execution side, and Capella on the consensus side. This could mean big changes for crypto traders so they should make sure they stay up to date with all updates concerning this event before it goes live next month

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