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Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Days
8.2.2023
Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction. The rise in onchain fees coincides with the new Ordinals digital collectible trend on the network, with the number...
Uzbekistan Collects Over $300,000 From Crypto Sector
4.2.2023
While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan...
Ethereum Network’s Rising Gas Fees in 2023: A Balancing Act of Growth and Cost
3.2.2023
Ethereum gas fees have increased 13.71% in the last two weeks, with the average fee rising from $4.52 per transaction to $5.14 per transfer on Feb. 3, 2023. Despite ethereum’s price seeing significant growth this year, its network’s gas fees have also seen a similar increase. As...
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
3.2.2023
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s...
Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more
3.2.2023
Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so
Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March
2.2.2023
The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in March. The upgrade, named “Bedrock,” aims to increase transfer speed, lower fees, and enhance compatibility with the Ethereum Virtual Machine (EVM). The Optimism...
Celsius publishes list of users eligible to withdraw majority of assets
1.2.2023
Eligible creditors will not be able to withdraw their funds from Celsius unless they update their accounts with AML and KYC data
Meet Ordinals, the New Bitcoin NFT Engine, and the Drama Surrounding Them
31.1.2023
Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way...
Ordinals protocol sparks debate over NFT's place in the Bitcoin ecosystem
30.1.2023
The community has been divided as to whether the NFT-like "digital artifacts" are the right fit for the Bitcoin ecosystem
New York Considers Bill to Establish Cryptocurrency as a Form of Payment for State Agencies
28.1.2023
A bill has been introduced in the U.S. state of New York to allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as “a means of payment of fines, civil penalties, rent, rates, taxes...
Paraguayan Bitcoin Mining Companies Hurt by Power Rate Hikes of Over 50%
27.1.2023
Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the government has established for cryptocurrency mining activities. According to reports from Braiins Mining business developer Nano Grijalba, after the veto of the crypto law, the change in power...
Objections Raised Over Appointment of Sullivan & Cromwell as Debtors’ Counsel for FTX
21.1.2023
On Friday, bankruptcy judge John Dorsey approved the law firm Sullivan & Cromwell (S&C) to be appointed as the debtors’ counsel for FTX, despite an objection from Daniel Friedberg, a former FTX US compliance officer. During a Zoom presentation, Friedberg claimed there was a conflict...
Fantom Blockchain to Fund Ecosystem Projects Using Portion of Burnt FTM Fees
20.1.2023
The fund is aimed at empowering builders on Fantom by offering a decentralized avenue for funding projects, ideas, and creations through a community-driven decision process
Ethereum Gas Fees Spike as ETH Value Rises: Average Onchain Fees Jump by More Than 50%
19.1.2023
While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93...
Combined Transactions on Arbitrum and Optimism L2 Chains Outpace Ethereum’s Daily Transfer Count
16.1.2023
Since The Merge, Ethereum’s onchain fees have been considerably lower. However, combined transaction volume on layer two (L2) chains Arbitrum and Optimism has outpaced Ethereum’s onchain transaction output. On Saturday, Jan. 14, 2023, Ethereum processed 1.10 million onchain...
Polygon primed for hard fork aimed at reducing gas fee spikes: New details revealed
15.1.2023
Polygon told Cointelegraph that the hard fork will take effect at block 38,189,056, which will be initiated without the influence of centralized actors
Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees
7.1.2023
Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy....
Celsius wants to extend the deadline for claims as lawyer fees mount
29.12.2022
Administrative expenses from the bankruptcy proceedings have already topped $53 million, and continued delays are chipping away at Celsius’ estate
Celsius wants to extend the deadline for claims as lawyer fees mount
29.12.2022
Administrative expenses from the bankruptcy proceedings have already topped $53 million, and continued delays are chipping away at Celsius’ estate
Web3 Applications Will Increasingly Be Built on Custom Blockchains, Says Ankr’s Head of Product
16.12.2022
As blockchain developers compete for traffic and resources for their respective dapps (decentralized applications), the downside to this, according to some in the industry, can be a poor user experience which in turn undermines the mass adoption cause. Therefore, unless current blockchains —...