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Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
6.5.2023
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers
Bitcoin Transaction Fees Surge to 2-year Highs – Where Next for the BTC Price?
6.5.2023
The mean fee to conduct a transaction on the Bitcoin network just shot to its highest level in nearly two years, as per data presented by crypto on-chain analytics firm Glassnode.
On Friday, the average transaction fee clocked in at 0.00032814 BTC, up more than ten-fold from a dip to 0.00003161...
Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector
6.5.2023
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher...
Memecoin hype drives Bitcoin transaction fees to multi-year highs
5.5.2023
Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from the all-time high levels
What is profit and loss (PnL) and how to calculate it
5.5.2023
PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more!
Bitcoin’s Frenzy of Activity Pushes Average Transaction Fee Over $7, Nearly 2-Year High
4.5.2023
The average transaction fee on Bitcoin has shot above $7, pushing total fees up nearly five-fold in two weeks– thanks to a surge in Ethereum-style “BRC-20” tokens and NFT-like “inscriptions” on the increasingly popular Ordinals project
Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases
4.5.2023
Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01...
BRC20 Token Standard Sparks Frenzy in Bitcoin Community With Market Cap Surpassing $95 Million
3.5.2023
As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the past week. With 10,487 BRC20 tokens built using...
Bitcoin miners earned $50B from BTC block rewards, fees since 2010
3.5.2023
They may have seen some hard times, but overall, estimates conclude that Bitcoin miners are up 37% from their activities
FTX advisors billed the bankrupt firm for a whopping $103M in Q1
3.5.2023
After Sullivan & Cromwell, Consulting firm Alvarez & Marsal billed the second largest invoice for its finance and accounting work
Ethereum Network Fees Surge 153% in 30 Days, While Arbitrum Daily Transactions Outpace ETH Following Shapella Upgrade
1.5.2023
Ethereum network fees have experienced a significant upswing following the implementation of the Shapella upgrade on April 12th. In the last 30 days, onchain fees have soared by over 153%, from a prior rate of $4.65 per transfer to a current average of $11.80 per transaction. The data highlights...
Bitcoin Blockchain Surpasses 2 Million Ordinal Inscriptions Milestone in Just Over 4 Months
28.4.2023
As of April 28, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain has exceeded 2 million, according to current statistics. This milestone has been reached within just over four months since the first Ordinal inscription was minted on December 16, 2022, at block height 767,753....
Bitcoin Mempool Overwhelmed With 134,000 Unconfirmed Transactions Amid Price Volatility
26.4.2023
Amidst the buzz surrounding bitcoin’s latest price surge, a significant number of transactions are currently clogging up the mempool. As of writing, 134,986 unconfirmed transactions await confirmation, and block times are lingering above the usual ten-minute mark. Bitcoin Transactions...
Decentralized Exchange GMX Connects to Chainlink's Low-Latency Oracles Following Community Vote
25.4.2023
Arbitrum-based decentralized exchange GMX will connect its platform to Chainlink's low-latency pricing oracles following a unanimous governance vote
Deribit plans to expand its offerings with Spot Trading at zero fees
20.4.2023
Deribit has announced plans to expand its offerings by introducing Spot Trading at zero fees starting April 24, 2023, at 1 pm UTC. There will be no fee on the taker and maker, allowing users to seamlessly buy and sell their assets while managing risk via derivatives. The three pairs that...
Ethereum gas fee jumped due to memecoin frenzy with mixed comments on network usability
20.4.2023
Ethereum proponents celebrated the growth in daily revenue, while many others pointed toward network congestion and difficulty in usage
Subway-themed trading bot makes millions using ‘sandwich’ attacks
20.4.2023
The anonymous MEV bot operator’s best day was April 18, where he profited about $950,000
Post-Shapella Hard Fork: Ethereum Deposits Exceed Withdrawals, Wait Time Climbs, ETH Transfer Fees Jump
19.4.2023
It has been a week since Ethereum’s Shapella hard fork, and statistics indicate that ethereum deposits on April 18 have exceeded withdrawals for the first time since the upgrade. At present, 929,999 ether worth $1.94 billion is pending withdrawal, and over the past three days, 112,568 ether...
Ethereum Fees Spike as Bots Spend Millions to Frontrun Punters of PEPE, CHAD
19.4.2023
An entity connected to a wallet named “jaredfromsubway.eth” is sandwiching crypto traders, mainly those betting on tokens such as pepe and chad
NYDFS adopts regulation to assess supervisory costs for licensed crypto firms
17.4.2023
Since 2015, crypto firms operating in the state of New York have largely been required to apply for a BitLicense to offer services