Web3 on Fire: ETH Shanghai Upgrade And a Meme Competition

GM, frens.

It's us again with the weekly Ambire newsletter. Today we'll be talking about ETH Shanghai upgrade, Crypto.com delisting USDT for Canadians, weird GoT NFTs, new scam that affects wallets addresses, BNB flipping USDC... and the Ambire $300 prize meme competition.

Now let's dive into more detail.

ETH core devs want to launch Shanghai upgrade by March

The ETH core developers intend to upgrade the network in March and release the coins that have been stuck since The Merge in September. The latest upgrade is known as 'Shanghai,' and developers hope to have a public test network up and running by the end of February.

The upgrade will only address withdrawals and code modifications that emphasize the ability to withdraw funds. The addition of the Ethereum Virtual Machine Object Format (EOF), a much-anticipated upgrade to the blockchain's programming environment, has been put on hold due to concerns that it may cause a delay.

The upgrade will only address withdrawals and code modifications that emphasize the ability to withdraw funds. The addition of the Ethereum Virtual Machine Object Format (EOF), a much-anticipated upgrade to the blockchain's programming environment, has been put on hold due to concerns that it may cause a delay.

Crypto.com delists USDT for Canadian users

Crypto.com is going to delist USDT for its Canadian users, and they must review their balances before January 31st, or else all their USDT will be converted to USDC.

Crypto.com also mentioned that all USDT spot orders will be canceled, and no USDT deposits in the Crypto.com wallet will be credited after January 31st. This comes just a bit after the Canadian Securities Administrators (CSA) announced that it would strengthen its oversight of crypto trading platforms. Who knew that such a move could have such huge implications?

Crypto com has been struggling with an increasing number of regulations as well as the market in general lately. This delisting of USDT for Canadian users only seems to be adding fuel to the fire. It's a shame that such an important asset has been let go, and one might wonder what the long-term implications of this move will be for Canadian crypto users.

Game of Thrones NFT collection sells out in record time: but there's a catch

Game of Thrones NFT collection sold out on Nifty's NFT marketplace in record time. It wasn't what we thought it would be though, as the artwork for its avatars was lacking, to say the least.

Despite the funky art, the collection still proved to be popular and sold out in just seven hours. Each NFT package contained an avatar, resource cards, and story cards, with the original minting price set at $150. However, due to high demand and market speculation, prices have dropped to a floor price of 0.07ETH ($93). When they say that the NFT market is unpredictable, this is definitely a great example.

The collections' founders also want to give their fans more options and have announced that a second series of Game of Thrones NFTs will be launching soon on OpenSea. Hopefully, they'll be of much better quality this time around though.

New crypto wallet address scam gains traction

MetaMask has warned users of a new scam that can trick users into sending funds to the wrong address. The scam involves attackers using vanity address generators to generate wallet addresses that match the first and last characters of the user’s address. By doing so, attackers are able to create copycat wallet addresses that may look like their victim's and thus trick them into sending their funds to the wrong wallet address.

Unfortunately, this scam is difficult to detect since it does not involve any malicious software. As such, users must take the extra precaution of double-checking the wallet address before sending any funds to make sure they are sending it to the correct address. MetaMask has also urged users to use unique wallets for every transaction and to avoid reusing the same wallet address multiple times as this increases the chances of being targeted by this scam. Finally, users should also avoid generating wallet addresses with vanity address generators.

The best way to protect yourself from this scam is to remain vigilant and take extra steps to ensure that the wallet address you are sending funds to is accurate and secure.

Research corner: BNB flips USDC and becomes the 4th largest crypto

BNB has surpassed USDC due in part to its rally and USDC's retreat. According to CoinMarketCap, BNB is now the fourth-largest cryptocurrency with a market capitalization of $45.5 billion. On the other hand, USDC has dropped to fifth place with $43.8 billion in circulating supply.

BNB pumped more than 12% this month, which is its highest point since early December. The surge of the Binance Coin could be attributed to the increasing popularity of decentralized exchanges and NFTs, as well as increased investor interest in the cryptocurrency market.

The sudden growth of BNB comes at a time when stablecoin dominance is declining. Earlier this year, stablecoins accounted for almost 19% of the entire crypto market, but that number is steadily decreasing. This drop in stablecoin dominance has opened the door for BNB to take its place as one of the top four cryptocurrencies by market value.

It's also possible that the BNB rally was fueled by the news of Binance registering with Sweden's Financial Supervisory Authority. This move has made Sweden the seventh European jurisdiction in which the crypto exchange has been granted approval, allowing Swedish residents to buy and sell crypto in euros, use Binance's staking service, and much more.

Overall, it appears that the markets are slowly becoming more bullish, as investors favor cryptocurrencies with higher potential for growth over those with a more stable price. This could be the beginning of a new phase for the crypto market, and it will be interesting to see how the trend continues in the coming months.

Ambire's meme competition

In case you missed the announcement, we're hosting an exciting meme competition – the Ambire Tournament on Youmeme.

Why should you care? Because this is your chance to show off your wit and creativity, and win up to 300 $USDC 💸 To participate, simply create a hilarious and original meme related to Ambire and then upload it to our Youmeme page. That's it! We'll pick the best memes and crown them winners.

The fun page: our weekly meme collection

That's all for now, frens.

We'll see you next week. Remember, as one wise man said, "The only true wisdom is in knowing you know nothing." So keep learning, exploring, and discovering the world around you. Until next time!

Yours, The 🔥 Team

Brought to you by Ambire: The Web3 Wallet That Speaks Human