In today's episode, Jason and Santiago discuss the bull vs bear case for ETH's Shapella upgrade. Since December 2021, ETH staking was one way. You could stake your ETH, but it was locked until the Shapella upgrade finally arrived. Shapella is here, and ETH is unlocked for the first time! Does this mean a giant supply of ETH sell pressure will hit the market? Will institutions embrace ETH now that Ethereum's roadmap is de-risked? Tune in to find out! We also discuss the NFT killer use case, Multicoin's L2 thesis and if the bear market has ended! - - Timestamps: (00:00) Introduction (03:23) NFT NYC and the NFT Killer Use Case (12:47) Shapella is Here (26:04) “Valora Ad” (27:10) Multicoin’s Thesis: Solana, L2s & Speed vs Security (43:37) Is the Bear Market Over? - - Follow Santi: https://twitter.com/santiagoroel Follow Jason: https://twitter.com/JasonYanowitz Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - This episode is brought to you by Valora. Valora is a self-custody, mobile-first wallet... and the easiest way to send, swap, collect and purchase digital goods on the Celo blockchain. Download the app and start exploring today at valoraapp.com/empire. - - Resources: ETH Withdrawal Dashboard https://app.metrika.co/ethereum/dashboard/withdrawals-overview?tr=1d ETH Staking Dashboard https://dune.com/hildobby/eth2-staking - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.