Ethereum supply soars briefly into deflation as gas fees rises
So far, a surge in gas fees and Ethereum burn rates has resulted in the creation of nearly 800 deflationary blocks. Since Ethereum’s London update last week, its potential deflationary features have already been demonstrated in operation on the blockchain, with around 800 “deflationary blocks” having been generated so far. A surge in the Ethereum […]
Bitcoin investment products suffer outflows despite price recovery
Despite the rise in Bitcoin price, investment products of the cryptocurrency still suffer capital withdrawal, while at the same time money is flowing into Ethereum and altcoin products. Despite the market’s positive trajectory, institutional crypto products have suffered withdrawals for the fifth week in a row. CoinShares, an institutional asset manager , projected that outflows […]
Investors spend Millions on pet rock NFTs
With the NFTs ‘craze’ spreading like wildfire into the crypto space, NFTs are now becoming assets of great worth. Recently, the most expensive EtherRock up for resale is priced at a whopping $1.9 billion. EtherRocks, a collection of digital pet rocks from 2017, is the latest trend to resurface in the effervescent nonfungible token (NFT) […]
Ethereum falls 7.6 percent as cryptocurrency markets crash
Ethereum, the second-largest cryptocurrency by market capitalization is one of the day’s top losers, trailed by Dogecoin and Uniswap. Ethereum has lost 7.6 percent in the last 24 hours, sliding close below the critical $3,000 level. According to CoinGecko, the cryptocurrency is currently trading at $2,934. Extending the period, on the other hand, provides a […]
Just two days after the launch of EIP-1559, $30 million of Ethereum was lost
As a result of the London hard fork (EIP-1559), which took effect on August 5, the Ethereum network has withdrawn $30 million from circulation. The London hard fork modified the way miners get compensated. Since it went into effect two days ago, Ethereum’s new transaction fee-burning mechanism EIP-1559 has taken $30 million in ETH from […]