Welcome to This Week in Crypto, where we cover the top trending headlines in the cryptocurrency industry. The world of crypto news moves fast, and we’re here to bring it to you for your weekly digest. This week, we’re looking at crypto markets being added to Twitter, Ethereum’s latest upgrade, and Mastercard opening up access to exclusive NFT music passes. Enjoy this week’s top stories!
Twitter Introduces Stock & Crypto Trading With eToro Integration
Popular social media platform Twitter is partnering with stock and crypto trading service eToro to take the platform in a new direction towards finance. Twitter users are now able to use cashtags (for example, $BTC) to view market charts and invest through eToro. It’s no surprise that the partnership occurred, as Twitter has “become a really important part of the retail investing community and it’s where a lot of people go to access financial news and acquire knowledge,” according to an eToro spokesperson. This is the first major feature added to Twitter since Elon Musk acquired the company in 2022, and is Twitter’s first step in becoming a “super-app”, where users can access multiple services in one place.
Ethereum’s Shanghai Update Successfully Executes, Price Surges
The Ethereum network recently underwent the Shanghai upgrade, completing its shift to a fully Proof-of-Stake consensus network. The upgrade is the largest since the Merge, which occurred in September of 2022 and switched the network from Proof-of-Work to Proof-of-Stake, allowing people to stake Ethereum and gain rewards. So what did the Shanghai upgrade do for Ethereum? It allows people who staked Ethereum to either partially or fully withdraw the Ethereum they staked and the rewards they got for staking. Previously, if you staked Ethereum, you wouldn’t be able to withdraw your ethereum or the rewards it generated.
Over $34.56 Billion of Ethereum has been staked on the network, and $198 million more has been staked in the 24 hours after the update. Following the update’s success, Ethereum’s price rose 7% and hit an 11-month high of $2,123.35, according to data from CoinGecko.
Mastercard Debuts Limited-Edition Music Pass NFTs
Digital payments processor Mastercard officially launched its Music Pass NFTs for its Artist Accelerator Program, with a limited-time period where people can mint their own pass for free. The passes drop on the Polygon network, which is a popular network among companies getting into Web3 like Nike, Reddit, and Starbucks. Mastercard Chief Marketing and Communications Officer Raja Rajamannar said that the Artist Accelerator Program is “designed to deepen the experience for the music and Web3 enthusiasts”. In the coming months, pass holders will be able to access an online AI music studio, join exclusive behind-the-scenes sessions with mentors and artists, and attend a virtual live session with music from featured artists.
