Ethereum ( ETHUSD ) Buying The Dips At The Blue Box Area - cyptoranking.com

2024-05-02

Popular crypto exchanges(2023 Update) 2024-05-02
Image: cyptoranking.com

Despite concerns that Bitcoin Ordinals are clogging the network, there is little evidence to suggest inscriptions are taking blockspace away from higher-value Bitcoin (BTC) monetary transfers.“There is minimal evidence that inscriptions are displacing monetary transfers,” on-chain analytics firm Glassnode explained its Sept. 25 “The Week On-chain” report.The firm explained that this is likely because inscription users tend to set low fee rates, expressing a willingness to wait longer periods of time for confirmation.“Inscriptions appear to be buying and consuming the cheapest available blockspace, and are readily displaced by more urgent monetary transfers.”Bitcoin Ordinals were introduced in February 2023 and have since accounted for the lion’s share of network activity when it comes to daily transaction count. However, this hasn’t necessarily been reflected in its share of mining fees, with inscriptions only attributing to about 20% of Bitcoin transaction fees, Glassnode noted.Inscription fee share between images, text, audio, video and other data types on Bitcoin. Source: GlassnodeMore inscriptions means more revenue — but there’s a catchWhile inscriptions have strengthened the base-load demand for blockspace and increased fees for miners, Glassnode says Bitcoin’s hash rate has also increased 50% since February.This has resulted in tougher competition for miners looking to swoop in on revenue fees, says Glassnode:“With extreme miner competition in play, and the halving event looming, it is likely that miners are on the edge of income stress, with their profitability to be tested unless BTC prices increase in the near term.”Bitcoin is currently priced at $26,216, but many industry pundits expect some degree of price appreciation in the lead-up to Bitcoin’s halving event scheduled for April 2024.Related: Bitcoin Ordinals creator Casey Rodarmor pitches BRC-20 alternative ‘Runes’ Currently, most inscriptions come as a result of BRC-20 tokens, which were introduced one month after Casey Rodarmor launched the Ordinals protocol on Bitcoin in February.On Sept. 25, Rodarmor pitched “Runes” as a potential alternative to BRC-20s, suggesting that an unspent transaction output-based fungible token protocol wouldn’t leave as many “junk” unspent transaction outputs on the Bitcoin network.Magazine: Blockchain games aren’t really decentralized… but that’s about to change It is a way to modernize and improve the exchange’s settlement processes by automating tasks, reducing risks and increasing efficiency and transparency. Ethereum ( ETHUSD ) Buying The Dips At The Blue Box AreaThe top 5 NFTs include BAYC, Cryptoadz, Azuki, Dreadfulz, and CloneX. The screenshot below clearly shows that there was a sharp dip in the Base TVL during late September due to the burning of USDC tokens. However, the re-minting of USDC covered the dip.

Exchange Rankings Crypto
Image: cyptoranking.com

India, once perceived as less receptive to cryptocurrencies, appears to be undergoing a shift in sentiment. USDT is a stablecoin that relies on active arbitrage to keep its value at $1. Traders can increase its value by selling other coins like Bitcoin in exchange for Tether. Digital Currency vs. Cryptocurrency: What's the Difference?Why Binance’s $1 Billion Recovery Fund Is Now Worth Just $32 Million The update includes the rollout of confidential transfers for SPL tokens, the token standard for Solana network tokens (like ERC-20 tokens for Ethereum), according to a recent press release from Helius, a Solana developer platform.

Yuval Rooz, co-founder and CEO of Digital Asset, joined forces with Selkis in this humanitarian endeavor. His dedication and leadership have been instrumental in driving the relief efforts forward, and his presence on the ground has been a source of inspiration and encouragement for the local population. On the upside, the key resistance level is the Exponential Moving Average of $0.53 (EMA-50). Breaking above that key resistance could signal an imminent bullish trend reversal toward $0.55. Are decentralized exchanges safer?Trantor Network objectives exceed expectations. New inter-chain asset communications channels are promoted as part of Web3 ecosystem communication. LasMeta and Trantor Network join forces on NFT interoperability. Lightning Network Transactions Surge

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here. Why US politicians don't act and restore FTX exchange ?Now we have unequivocal confirmation that restarting the FTX exchange is an imperative matter of national security.@VP@POTUS@JusticeOIG@SECGov@GaryGensler @SenWarren @CFTC https://t.co/KbZHdiiLAo How to Build Your Own Crypto Exchange PlatformThe key innovation is that Bitcoin “is able to be the trusted third party for an arbitrary [Turing] complete computation despite the fact bitcoin script is not able to actually execute it,” according to the helpful explainer from software engineer Gregor Pogačnik. Another two suspected thieves were already in custody, having been charged with bank robbery-related offenses.

Have an opinion on this story? Share it!