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Oppenheimer raised its price target for Marwell Technology (MRVL.O) from $250 to $300.On August 21, the Ministry of Finance issued a notice on further improving fiscal and financial coordination policies to boost domestic demand. The notice stipulates that the annual maximum amount of interest subsidies for loans to small and micro enterprises that a single borrower can receive from a single lending institution will be increased from 50 million yuan to 75 million yuan. The annual maximum amount of interest subsidies for loans to service industry operators that a single borrower can receive from a single lending institution will be increased from 10 million yuan to 20 million yuan. The annual maximum cumulative interest subsidy for personal consumer loans and credit card installment payments that each borrower can receive from a single lending institution will be increased from 3,000 yuan to 5,000 yuan.The Ministry of Finance announced that the scope of agencies handling the loan interest subsidy policy for small and micro enterprises and the loan interest subsidy policy for service industry operators will be expanded to 21 national banks and city commercial banks, rural cooperative financial institutions, private banks and foreign banks with a financial regulatory rating of 3A or above.On August 21, the Ministry of Finance issued a notice on further improving fiscal and financial coordination policies to boost domestic demand. The notice stipulates that newly issued working capital loans to eligible small and medium-sized private enterprises will be included in the scope of the SME loan interest subsidy policy, with the central government providing an annualized interest subsidy of 1 percentage point on the principal of the working capital loan for a period not exceeding two years. New credit card installment businesses, including special installment plans, consumer installment plans, and cash advance installment plans, will also be included in the scope of the personal consumer loan fiscal interest subsidy policy, with a subsidy rate of 1 percentage point per annum.On August 21, Liao Min, Vice Minister of Finance, introduced that this year, the Ministry of Finance, together with the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Commerce, the General Administration of Customs, the State Taxation Administration, and the State Administration for Market Regulation, has established a nationally unified negative list management mechanism for local government subsidies. This mechanism clearly defines the specific circumstances of illegal subsidies, resolutely prevents the increase of illegal subsidies, and classifies and standardizes the existing stock of illegal subsidies.

ETH and a Look at $1,800 Shanghai Hard Fork Update Dependent

Skylar Shaw

Feb 20, 2023 15:57

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On Saturday, Ethereum (ETH) fell by 0.12%. On Friday, ETH gained 3.42% and closed the day at $1,692. ETH returned to $1,700 for a third session in a row.


After spending the morning in a narrow range, ETH increased to a late-afternoon high of $1,714 before going back down. The price of ETH dropped to a late low of $1,680 after failing to reach the First Major Resistance Level (R1) at $1,734. The First Significant Support Level (S1) at $1,642 was avoided, and ETH returned to $1,694 before slipping back into the negative territory.


Bitcoin (BTC) increased by 0.21% on Saturday. BTC finished the day at $24,633, building on a 4.48% increase from Friday. Bitcoin missed the $25,000 level for the first time in three sessions despite the positive day.


Following a day of range-bound trading, Bitcoin dropped to a low of $24,450 in the early morning. BTC increased to a high of $24,878 in the late afternoon, avoiding the First Significant Support Level (S1) at $23,614 in the process. Bitcoin slipped down to close the day at $24,633 after failing to surpass the First Major Resistance Level (R1) at $25,287.

Shanghai Hard Fork Update: ETH is no longer active Without heels

There were no development updates from Shapella testnet testing on Saturday. The Shanghai hard fork is anticipated to take place in March, therefore on Saturday, the absence of news was welcome. Yet, ETH and BTC may have been held back from another high session by uncertainties over the US crypto industry regulatory environment and Fed Fear.


While US lawmakers' investigation of SEC regulatory action resulted in mid-week support, there is still anti-crypto sentiment on Capitol Hill in the aftermath of FTX's bankruptcy.


Last week, Coinbase CEO Brian Armstrong urged for more clarity in cryptocurrency legislation, stating that the absence of such regulations and a hostile regulatory climate were contributing to America's long-term decline as a financial center. To adopt unambiguous law, Congress has to move quickly.


 Everyone can use cryptocurrency, and others are taking the lead. The UK, the EU, and now Hong Kong.


The CEO of Coinbase said that all inhabitants of Hong Kong would be able to trade cryptocurrencies starting on June 1.


Although progress toward the Shanghai hard fork is encouraging for ETH, the impact of the hard fork on ETH will probably rely on the state of the cryptocurrency market. Investor attitude and staking intents would be affected by the SEC's enforcement of regulation being tightened up and by anti-crypto sentiment on Capitol Hill.


The SEC's action against Kraken and other cryptocurrency staking firms caused a significant decline in daily staking inflows for Ethereum. After the decline on February 13, stake inflows have been inconsistent.


CryptoQuant reports that daily ETH staking inflows reached a low of 4,896 ETH on February 23 before increasing. Inflows peaked at 33,280 EHT on February 14 before dropping to 16,640 EHT on Friday and 11,520 EHT on Saturday.

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