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The collapse of Terra continues to reverberate in Do Kwon’s homeland, but there are signs of progress, CoinDesk’s Emily Parker reports.

Dogecoin has risen from Wednesday’s low of $0.809 with a 5.89% move to the upside after Twitter struck a deal with EToro to offer crypto trading.

The landmark crypto licensing framework and funds transfer rules will likely be rubber-stamped next week as last-minute upsets now seem unlikely.

We are seeing a sell the rumor buy the fact redux, one observer said, explaining ether’s post-Shanghai upgrade rally.

The new service will see the social investing firm provide Twitter users with real-time price for cryptocurrencies, stocks and other assets while directing them to the eToro platform to invest in them.

Ethereum’s native coin, ether, is trending higher following the blockchain’s Shapella upgrade. 

Ether was trading hands for $1,970 by 5:08 a.m. EDT — up 2.75% over the past five hours, according to Binance data via TradingView. The move follows Ethereum’s first significant upgrade since The Merge, Shapella, which was completed around 6:30 p.m. EST last night. 

The Shapella upgrade made it possible to withdraw staked ether on the network for the first time. Now that stakers can withdraw ether, the blockchain has completed its transition to a proof-of-stake consensus mechanism.

Over 822,000 ether is pending withdrawal, with a dollar value of around $1.6 billion, according to the token.unlocks application. Earlier today, the dollar value amounted to $1.34 billion.

However, the potential sell-side pressure has done nothing to deter traders, with ether volumes increasing as the price approaches pre-Merge highs. Volumes of the most popular trading pair, ETH/USDT on Binance, topped $1.28 billion in the past 24 hours, according to CoinGecko data. 

Ethereum liquid staking tokens are also surging

Ethereum liquid staking governance tokens also appeared to benefit from the successful upgrade. 

The three most-prominent governance tokens for liquid staking protocols have all jumped 5.2% in the last 24 hours, according to CoinGecko. The tokens — Lido DAO, Rocket Pool, and Frax Ether — are up between 3% and 3.2% over the past seven days. 

Liquid staking protocols allow users to stake ether and receive a derivative token representing the previously locked cryptocurrency. Users can then use their liquid staking token like any other cryptocurrency. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bonk Inu was one of the hottest Solana tokens earlier this year, leading a frenzied market at the time.

The country is also exploring issuing a central bank digital currency.

Ethereum implemented the Shanghai upgrade early Thursday, opening withdrawals of more than 18 million ETH staked in the blockchain since late 2020.

Kraken agreed to shut down its US crypto staking service in February as part of a settlement with the Securities and Exchange Commission.