x
Image Source: Pixabay
Ethereum Supply Is Starting to Grow Again as Gas Prices Plummet
The network is deflationary over shorter time frames, but inflationary on longer ones. What gives?
Supply dynamics in Ethereum are constantly being upended amid this year's dizzying drop in DeFi, NFT sales, and meme coin trading.
Depending on which time frame you are looking at, Ethereum can be deflationary or inflationary: on a seven-day model, Ethereum becomes more scarce, whereas on a yearly framework, it issues more than it burns.
What’s going on with the network’s supply dynamics, why are transaction fees prices dropping, and how does it look for the future of Ethereum?
Back in August 2021, Ethereum implemented EIP-1559, which introduced a fee-burning mechanism. Since then, the supply has had a direct connection to gas prices. Higher gas prices mean more ETH getting burned and vice versa. Read More
Did You Know About These Crypto Airdrops in October?
As markets continue to move sideways, crypto companies are trying to increase user engagement through airdrops. Among them are some well-known names in the space, as well as new projects searching for their place. They all seek to arouse interest in digital money and their own products with giveaways of coins and tokens.
From Binance Rewards to Wall Street Memes, October Brings a Number of Airdrops:
Airdrops are a popular way to win some crypto by interacting with new or well-established platforms in the industry, a reward for those who are willing to get involved, see potential, or are simply out hunting for some free digital cash. Not least, they offer newcomers an opportunity to try cryptocurrency, and not necessarily after spending fiat.
The world’s largest cryptocurrency exchange, Binance, has been at loggerheads with regulators around the world this year and the clash has brought it bad publicity. However, despite the challenges, including legal battles, probes, and de-banking in the U.S. and Europe, the crypto behemoth managed to hit 150 million users this past summer and wants more. Read More
Solana Witnesses A Noteworthy Surge In Total Value Locked
Solana has observed a significant surge in its Total Value Locked (TVL), reaching almost $340 million this Monday, according to data from Defi Llama.
The past 24 hours witnessed a more than 4% increase in Solana's TVL. Solana’s native token, SOL, has also experienced an excellent week, marking a 29% increase since its lowest point in September.
SOL benefitted really well from yesterday’s news that a U.S. government shutdown had been averted. As much as a 14% increase in price was seen on Sunday, and at $24.20 SOL is consolidating at resistance.
The recent recovery is certainly a boon for holders of SOL. However, still to come is the potential impact on SOL's price following the approval for the FTX estate to liquidate its crypto holdings.
According to a report in Decrypt, the estate reportedly holds about $1.2 billion in SOL, with as much as 22 million SOL tokens (approximately valued at $400 million) being unlocked and available for sale, representing close to 4% of SOL's total supply. An additional 40 million to 44 million tokens, or around $860 million, are currently staked, with another $17 million worth of SOL tokens anticipated to be unlocked monthly for the next four years. Read More
Solana Extends Investment Streak to 27 Weeks of Inflows: CoinShares
The one-time "Ethereum killer" remains the darling of institutional investors.
Institutions love Solana, according to CoinShares’ latest crypto fund report, even when the rest of the crypto space is flat.
“Very little activity was seen in the altcoin space,” wrote James Butterfill, head of research for CoinShares, noting one exception: Solana.
Solana has had a bright 2023, with 27 weeks worth of inflows versus merely four weeks of selloffs. The last seven days were no exception, with institutions pocketing $5 million worth of the asset. According to Butterfill, this has allowed the altcoin to retain the title of “most-loved altcoin this year.”
The success of the one-time "Ethereum killer," Butterfill told Decrypt, is due to its partnership with many financial institutions, such as payments giant Visa, “while offering ultrafast cheap payments.” He added that despite not having the same number of users or developers that Ethereum boasts, “it has captured the favor of investors.” Read More
Great news, Markethivers! The wallet is now installed on the Markethive platform. Markethive has kept its promise and delivered a complete working wallet. This mighty, robust, and secure wallet encompasses all aspects of facilitating your business and securing all your financials within Markethive, like earnings and payments, dividends paid from your ILPs, retail products, etc.
This is a significant step in the right direction for monetizing Markethive’s ecosystem as it endeavours to ensure and restore sovereignty and financial freedom increasingly being stripped from us by a global authoritarian regime. This article will illustrate what you need to know and do to access the now-operational wallet.
Understand that access and functions of the wallet are only for Entrepreneur One (E1) members at this stage. E1 members can now retrieve their Hivecoin (HVC) from their cold storage to their hot wallet. (You can do this in preparation for the forthcoming coin exchanges and your 3rd party self-custody wallet.) You can also transfer HVC to other members within Markethive via the wallet. Read More
.png)
Ethereum Future ETFs Start Trading in US for First Time
Nine Ethereum futures ETFs started trading today, but demand has been lower so far than at the ProShares Bitcoin Strategy ETF launch in 2021.
Several Ethereum futures exchange-traded funds (ETFs) have started trading in the United States for the first time.
Investment firms ProShares, VanEck, Bitwise, Valkyrie, Kelly, and Volshares collectively debuted a total of nine ETFs on the Chicago Board Options Exchange (CBOE) Monday morning.
Proshares launched three funds: the Ether Strategy Fund (EETH), the Bitcoin and Ether Strategy ETF (BETH), and the Bitcoin and Ether Equal Strategy ETF (BETE).
Meanwhile, Bitwise debuted its Bitwise Ethereum Strategy ETF (AETH) and Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP). Read More
Hashing It Out: What happens when cloud meets Web3?
The guests on this episode of Hashing It Out discuss how cloud technology and Web3 intersect, with a special focus on user identity and regulations.
Cointelegraph’s Hashing It Out podcast talks to Howie Jiang, Web3 chief solution architect at Tencent Cloud Europe, and Fakhul Miah from Elastos about how crypto can take advantage of cloud technology. The two firms recently announced a partnership to “accelerate the Web3 space.“
Tencent Cloud, a popular global cloud vendor, is betting heavily on Web3 with operations in 27 regions and multiple projects related to Web3. Jiang highlights the firm’s experience with Web3 and explains that the cloud company wants to expand overseas after working with nonfungible tokens (NFTs) and other blockchain products in China.
Elastos has been building what it describes as “the next phase of the internet” for the last five years. Miah explains that a commitment to providing individuals with true digital sovereignty sets it apart from other projects. Read More
Aptos (APT) Founder Names Three Things That Could Attract a Billion New Crypto Users
The co-founder of Aptos (APT) is weighing in on what developments in the digital assets space could attract the next wave of mass adoption.
In a new interview with crypto influencer Scott Melker, Aptos CEO and cofounder Mo Shaikh says that three main things could result in a billion new users flooding the space.
The first on his list is a universal identity application allowing users access to their crypto assets.
“A killer app might actually be credentialing. Identity. No one likes to talk about it. But if I had the same identity that I can take with me everywhere, that would be amazing. And if it would give me access to my assets in some custodial manner, self-custodial, full-custodial, I’d be happy with that. That is something that we’re all pretty excited about. We’re seeing that in the work that we’re doing with someone like MasterCard.” Read More
Ripple gets formal approval for Singapore payments license
Ripple said it received its fully-fledged digital payment tokens license from the Monetary Authority of Singapore.
Ripple has received a full license to operate as a major payment institution from Singapore’s central bank, allowing it to continue operations there after receiving in-principle approval in June.
In an Oct. 4 statement, the company said its local entity, Ripple Markets APAC, was granted the full license by the Monetary Authority of Singapore (MAS).
Ripple chief Brad Garlinghouse said in the statement that “Singapore has developed into one of the leading fintech and digital asset hubs striking the balance between innovation, consumer protection and responsible growth.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
