Ethereum Shanghai upgrade completed, US CPI in line with expectations, FTX may resume operations

Table of Contents

Ethereum Shanghai Upgrade Completed

Ethereum has completed the Shanghai upgrade at Epoch 194,048 at 6:27 AM Taiwan time. According to data from TokenUnlocks, the net amount of ETH unlocked after the Ethereum Shanghai upgrade is 22,950 ETH. There are still 320,000 ETH in the withdrawal queue, valued at approximately $560 million USD. As of the deadline, the price of ETH was $1,905, with no significant changes.

US CPI Data in Line with Market Expectations

The US Consumer Price Index (CPI) for March was announced last night, showing a year-on-year increase of 5%, the lowest since May 2021. The core CPI, which excludes food and energy prices, increased from 5.5% in February to 5.6%, in line with market expectations.

According to CME's FedWatch data, the market currently expects a 70.4% probability of the Federal Reserve raising interest rates next month. However, the probability of a rate cut starting in the third quarter remains high, indicating lingering concerns about economic recession.

FTX to Submit Reboot Plan in July

The most exciting news last night was the prospect of FTX's potential reboot! FTX's lawyers stated at the latest Delaware hearing that they will submit a restructuring plan in July, with the possibility of FTX resuming operations confirmed in the second quarter of next year.

For more details on the reboot, please see: FTX Resuming Operations? Submission of Plan in July, Confirmation in Q2 Next Year