Crypto Espresso: Prices Bounced, Shadows Forked, And Monkeys Are Still Bored

Mornin’ Coinheads.

Crypto’s watching a little Louis Armstrong this morning – we’re seeing green trees (and a couple of red roses, too…but that’s to be expected), after a positive effort overnight among the majors on the back of the US Fed doing exactly what everyone I thought I was going. do, raising interest rates by 75 basis points.

So the numbers look like this early in the morning: BTC (+8.0%), ETH (+15.4%), XRP (+7.0%) and SOL is up around 10.0 %, however, things have softened a bit in the last 60 minutes, but it still looks pretty positive on the charts.

Ethereum did particularly well, which we’ll talk about in a second, but first, grab a hot drink and let’s get moving. We’re late, dammit.

ETH Shadow Fork coming soon

ETH returned to its best results overnight, with news that the 10th “shadow fork” of the Ethereum Mainnet went into effect earlier than expected, as the network continues its preparations to become more thin and greenest in September.

Coindesk has a great thread with details herebut the gist is pretty simple: ETH is moving from an energy-consuming proof-of-work to a much more elegant proof-of-stake protocol, and there are a bunch of things that need to be tested to make sure that everything it will work as expected

The shadow fork was basically a copy of the network turned into a test network, to have a series of releases that approximate the ones that will be used in the “Goerli” merger around August 10th, which it’s the final test merge before the real one. one, scheduled for September.

The FTC is suing Meta for monopolistic behavior

In the US, FTC regulators have filed a lawsuit to sink a proposed acquisition of virtual reality company Within by Metathe company formerly known as Facebook.

The 5-second version is this: Meta has made an offer to acquire Within, makers of the popular Supernatural VR fitness app. The FTC believes it is a move that is likely to stifle competition in this market.

So the FTC wants to stop the deal going forward, on the grounds that Meta has the brains and dollars to build its own version and compete, rather than just throw its considerable weight around and eat up new businesses until that the entire Metaverse is controlled by a small and shrinking cabal.

It’s a bold move by FTC Chairwoman Lina Khan and the first antitrust lawsuit filed by the commission under her watch, and Meta’s response is a counterclaim that the requirement is based on ideology, not law

There’s a lot going on behind the scenes on this one, so we’ll refer you to the good folks at the News from New York i CNN for a more granular look at history.

Solana set to open New York meat showroom

New York, home to awful pizza, 10 billion cops and lots of fantastically rich people, is about to get a new attraction as Solana Spaces opens its doors, powered by the Solana Blockchain network.

Like a very, very stylish Telstra store, it will be a full-tilt retail space and a Web3 embassy, with the core of its design focused on getting people into the street, learning about blockchain technology and installing with a wallet, according to Decrypt.

Then, we assume, they’ll be subjected to Scientology-level hard-sell tactics to buy real-world stuff to help connect them to the digital stuff behind it all. Simple.

Solana Spaces’ designation as a Web3 embassy is unlikely to be formally recognized, so if you’re thinking of going there to seek asylum, it’s unlikely to work. Just so you know.

Even Madonna thinks boring apes are a little expensive…

And finally, a quick one from Pop-Ghoul Madonna who explained it variety who is still a little upset about missing out on the Bored Ape NFT he really wanted to have.

The 9 billion-year-old singer says she wanted “the onesie with the leather motorcycle cap and multicolored teeth” because she was told it was modeled after her (man…really?), which the creators of the NFT series. denied

But, that particular monkey (#3756 for anyone keeping score) was snapped up by a fan of the singer, who said he was going to sell it to Madonna before raising the price to 800.69 ETH (about US$1.3 million), which even Madonna thinks it’s a little too much.