EOS Above $1 and New Ethereum Upgrade Date Confirmed

Axie Infinity is back to winning, EOS above $1 again and the Ethereum Shanghai Upgrade date is confirmed. Let’s finish the week with a quick look at the highlights of the crypto space

Axie Infinity on the rise as decentralization efforts continue

In parallel with the project’s efforts for more decentralization and participation from its community, Axie Infinity’s price broke through the $9 mark on Tuesday, before dropping slightly since then. The gaming token has been trading above the $8 mark most of the week, with a price hike of more than 16% in the last 7 days. Back in May, Axie Infinity announced that it will be forming a community of members who would be responsible for “making resourcing decisions around the Axie Infinity ecosystem”, and this Monday it announced the launch of this community’s pilot with almost 700 members. Right after the announcement, AXS’s price jumped by more than 23% in 24 hours.

EOS breaks through the $1 mark

EOS price has managed this week to get to a 30-day high this week, breaking through the $1 mark for the first time since November 8. EOS has been on the rise for two weeks now, after news that Block.One (developer of EOS) CEO and Founder Brendan Blumer is buying 9.3% of crypto bank Silvergate, which has been suffering lately due to its exposure to FTX. The best price EOS could get this week was as high as $1.04, and it’s heading towards ending the week with over 9.4% gains.

Date of Ethereum Shanghai Upgrade confirmed

At the end of their last meeting this year, Ethereum core developers agreed on rolling out the Ethereum Improvement Proposal 4895 in March 2023. The new update, known as the Shanghai Upgrade, will allow validators to withdraw their staked ETH from the Beacon Chain consensus layer after the successful completion of the Ethereum Merge last September. Also, it was confirmed that full and partial withdrawals are working on two private testnets, and will be deployed to a public testnet on December 15 or 16.

Hong Kong includes crypto in anti-money laundering system 

The legislative council of Hong Kong has amended its anti-money laundering (AML) and counter-terrorist financing (CFT) system to include virtual/crypto asset service providers. A new regime will go into effect on June 1, 2023, and crypto exchanges seeking to open a business in Hong Kong will have to follow strict AML/CFT guidelines and investor protection laws before receiving a license to operate. 

Nigeria limits ATM cash withdrawals to promote eNaira

The Central Bank of Nigeria announced on Tuesday that people and businesses are now allowed to withdraw only 20,000 nairas ($45) a day, and 100,000 naira ($225) a week from ATM machines, in an effort to promote the use of the eNaira network for payments and money transfers. Also, as part of the cashless Nigeria policy, a 5% fee will be applied to individuals who exceed these limits, and a 10% fee for businesses as well. The new limits will go into effect on January 9, 2023, and come after a little more than one year since the launch of the eNaira.

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