The daily median gas price, or transaction cost, hit a 12-month high of 87 gwei (one gwei is a billionth of an ether) early this week. The value has increased more than 50% since the launch of the PEPE token on April 18, according to pseudonymous analyst @hildobby’s Ethereum Gas tracker on Dune Analytics. At one point on Monday, the one-minute median gas price surged well past 150 gwei. Source
The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and ECB president Christine Lagarde stating that rates are not “sufficiently restrictive” yet. ECB Eases Pace of Hiking Interest Rates in the Eurozone The Governing Council of the European Central Bank (ECB) decided to raise three…
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. Original
Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift change of mood for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk to daily lows at the previous day’s Wall Street open as markets awaited a decision on interest rates from the Federal Reserve. At the same time, more U.S. regional bank stocks were suffering, the…
While the next difficulty change for Bitcoin is just two days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on May 02, 2023, at block height 787,895. This staggering amount of computational power came tantalizingly close to a half zettahash or five hundred quintillion hashes per second. Bitcoin’s Hashrate Surges to Unprecedented Heights, Nearly Reaching Half a Zettahash On the second day of May 2023, Bitcoin’s hashrate achieved a remarkable feat, tapping into a new record at block height 787,895. In a stunning display…
Data tracked by blockchain analytics firm Glassnode shows the balance held in Binance’s wallets has increased by over 52,000 BTC ($1.5 billion) in four weeks, taking the tally to 692,880 BTC. The global tally (coins held on all centralised exchanges) has increased by over 27,000 BTC. Original
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The persistent inflation in Argentina has resulted in a record high price of bitcoin against the Argentine Peso (ARS) on April 25. The exchange rate of BTC to ARS crossed over 6.59 million ARS on April 18, according to aggregated price data tracked by Google Finance. BTC/ARS YTD chart | Source: Google Finance Despite a 9% correction, the BTC/ARS exchange rate currently stands at approximately 6 million ARS, representing a significant increase of more than 100%…
Last week, the price of Bitcoin (BTC) reached a record high in Argentine peso (ARS) terms following persistent inflation in Argentina. Argentina’s inflation pushes BTC’s price to all-time high On April 18, the BTC-to-ARS exchange rate crossed over 6.59 million ARS, according to aggregated price data tracked by Google Finance. Since the peak, the rate has corrected to around 6 million ARS, down 9%, but still up more than 100% year-to-date (YTD). BTC/ARS price performance so far in 2023. Source: Google Finance Bitcoin’s growth in the Argentine markets coincides with the…
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an ‘Undefined’ Payment System in Uganda The High Court in Uganda recently dismissed an application that sought to upend a central bank directive that bars cryptocurrency transactions. In his ruling, the court’s Justice Musa Ssekaana, insisted…
As ether’s price rose in April, so did the total value locked (TVL) of Ethereum layer 2, or companion, networks, reaching $10 billion on April 14, its highest level yet. TVL has subsequently declined amid a swoon in crypto prices but remains at around $9.29 billion, more than double where it stood at the start of the year, data from layer 2 analytics site L2Beat shows. Source