Day: January 20, 2022

Ethereum Fee Averages Remain Above $30 Despite 35% Drop. Price Pump Incoming?

boss

Ethereum fees remain high as the network continues to see some of the highest traffic in the industry. Daily transaction volumes put Ethereum in the billions per day and all of these transactions carry a higher than average fee. This fee structure which has caused concern among users seems to not be going anywhere, but there looks to be a light at the end of the tunnel. Recently, the average transaction fee for Ethereum transactions has dropped significantly. In the past week, the average transaction fee for ETH transactions topped…

Witnesses address energy impacts of crypto mining during House hearing

Five industry experts appearing before the United States House Energy and Commerce Oversight Subcommittee had different views on how lawmakers should address the energy consumption of cryptocurrencies. In written testimony released before a Thursday hearing on “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains,” former Comptroller of the Currency Brian Brooks argued that the energy consumption of Bitcoin (BTC) mining was “economically productive” given other assets including gold required roughly the same amount of energy for mining, with the “a host of other environmental concerns.” In addition, Brooks said that…

Bitcoin shrugs off Russia crypto ban fears as BTC price nears $43.5K

boss

Bitcoin (BTC) surged on the Wall Street open on Jan. 20 as news that Russia was planning to “ban” cryptocurrency failed to impact price performance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price climbs $2,500 in 24 hours Data from Cointelegraph Markets Pro and TradingView showed BTC/USD adding $1,500 over several hours on Thursday, continuing the upside move, which began with a bounce off $41,000. At the time of writing, the pair was acting above $43,000, having reached highs of $43,468 on Bitstamp. That peak represented an eclipse of resistance…

Congressional Hearing Puts Crypto Energy Use in the Crosshairs

11:30 a.m. ET (ND) Good morning folks, and welcome to CoinDesk’s live coverage of the House Energy and Commerce Committee hearing on cryptocurrencies and their environmental impact. Titled “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains,” the hearing seems likely to focus on Bitcoin in particular and proof-of-work more broadly, but I imagine we can expect questions about proof-of-stake and how energy is sourced to pop up. Source

Andreessen Horowitz aims to raise $4.5 billion to invest in crypto funds

boss

A16z, a VC company with investments in Protocol Labs, Polychain Capital and Opensea among others, is now planning to raise $4.5 billion for its latest fund which is focused solely on cryptocurrencies, according to a report by U.K newspaper Financial Times. Last week, Andreessen Horowitz’ venture capital firm reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for web3 seed investments, with the plans to be announced in March. The firm is ready to eclipse the $2.2 billion it raised in June 2021,…

Can NFTs Be Issued at Scale?

And that’s before NFTs even enter the picture. Creating an NFT, as with any transaction on Ethereum, is both cost-intensive and bad for the environment. Let’s not forget that, whatever Vitalik Buterin’s utopian plans might have been, his brainchild still runs on a proof-of-work protocol, so minting 10 million NFTs right now would cost $331,200,000 – much of that going into coal-fired energy. Another slice of that pie goes to preventing or mitigating the effects of spammers on the network. That’s a hidden expense – it’s just part of the…

Why Cryptocurrency is the BIGGEST Opportunity in 2022 ($100k Bitcoin!!)

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Let’s discuss the LATEST crypto news for bitcoin, ethereum, metaverse altcoins, & MORE! Sign-up for Okcoin Exchange (100% Zero Fee Staking): #1 Crypto Exchange w/ CHEAPEST FEES (COINBASE KILLER) | Okcoin Interview 💰 Top Crypto Investing Strategy into 2022 | Anthony Pompliano Interview 🎸 Gene Simmons REVEALS His 10x Cryptocurrency Portfolio for 2022 (Top 2022 Altcoins) 📈 Raoul Pal Reveals His Top Altcoins to Watch RIGHT NOW Altcoin Daily, the best cryptocurrency news media online! Is ethereum a good investment 2022? What…

Jefferies Sees the NFT Market Reaching More Than $80B in Value by 2025

The convergence of the digital and physical worlds is taking shape, with non-fungible tokens (NFTs) allowing brands to expand their reach into “digitally-enabled experiential tie-ins,” investment bank Jefferies said in an analyst note. The bank raised its NFT market-cap forecast to more than $35 billion for 2022 and to over $80 billion for 2025, analysts led by Stephanie Wissink wrote in the report published Tuesday. The bank notes that companies and celebrities are buying plots of virtual “land” in The Sandbox and Decentraland, allowing them to digitally market, raise awareness…

Prada, Adidas Launch NFT Project on Polygon

Italian luxury fashion house Prada and sportswear giant Adidas, which recently ventured into the metaverse, have joined forces to launch a new non-fungible token (NFT) project built on the Polygon network. The project will allow fans to contribute their own designs. Prada and Adidas Originals said they will auction a collection of NFTs designed by the digital artist Zach Lieberman on SuperRare between Jan. 28 and Feb. 3. The proceeds from the NFT sale will be donated to a charity supporting artists and creators. This Prada-Adidas tie-up is another sign…

1inch Network expands to Avalanche and Gnosis Chain

boss

The 1inch Network announced on Wednesday its plans to deploy the 1inch Aggregation Protocol on Avalanche and the 1inch Limit Order Protocol on Gnosis Chain, formerly known as the xDai Chain. In a statement shared with Cointelegraph, the 1inch Network expressed its aim to further expand its capabilities within the decentralized finance, or DeFi, industry. 1/ In life, we often have to choose between two options both of which may seem important to us. But what if we could go for both options at once? Sounds fantastic, doesn’t it? Well, nothing…