Tag: High

Daily gas spent on EVM inscriptions surges to record high of $8M

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Network transaction fees across all blockchains have spiked over the weekend as the Ordinals inscriptions craze continues to push demand for blockspace — and not just on the Bitcoin network. Inscriptions on Ethereum Virtual Machine (EVM) chains skyrocketed over the weekend, causing a spike in gas fees. On Dec. 16, gas spent on inscriptions surged to a record high of $8.3 million, according to data from Dune Analytics. The Avalanche network saw the most gas spent, with more than $5.6 million on that day alone. Aribitrum One was second, with…

XRP to reach all-time high: Reaper Financial’s Patrick Riley

Reaper Financial founder Patrick Riley is optimistic about Ripple’s (XRP) potential for reaching a new all-time high. In an interview with market analyst Zach Rector, the coin could surpass $22 in the next bull market. Riley broadly discussed some of the projects his team at Reaper has built leveraging the XRP ledger, which will only propel the bullish potential. Furthermore, the crypto startup founder told Rector that the introduction of Ethereum Virtual Machine (EVM) side chains to Ripple will boost the network’s growth.  From Ethereum to XRP Riley deemed Ethereum…

Bitcoin fees hit 20-month high as miner revenues match $69K BTC price

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Bitcoin (BTC) on-chain transaction fees are dividing opinion as the cost of sending BTC skyrockets. Data from statistics resource BitInfoCharts puts the average transaction fee at nearly $40 as of Dec. 17. Commentators: High Bitcoin fees are inevitable The latest wave of Bitcoin ordinal inscriptions have resulted in a fresh wave of elevated transaction fees for all network users — but some believe that they are here to stay. Per BitInfoCharts, it currently costs just over $37 to send BTC on-chain — the highest average figure since April 2021. Bitcoin…

Path To New All-Time High Set?

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On-chain data shows Ethereum has successfully found a rebound at a major support zone, a positive sign for the asset’s exploration at higher levels. Ethereum Recently Made A Retest Of A Strong On-Chain Support Zone In terms of on-chain analysis, the potential of any particular price range to act as support or resistance lies in the total number of investors who bought their coins inside said price range. The reason behind that is the holders are more likely to react whenever the price retests their cost basis or acquisition price,…

Dow Jones Jumps 500 Points to All-Time High as Fed Keeps Rates Unchanged

With yesterday’s historic high, the Dow Jones extends its Q4 rally to more than 10%. On the other hand, the technology sector also makes a fresh all-time high. In a historic surge, the Dow Jones Industrial Average set a new record by closing above 37,000 points for the first time. The Federal Reserve’s indication of multiple rate cuts in the coming year was the major catalyst behind the move. The 30-stock Dow soared by 512.30 points, or 1.40%, finishing at 37,090.24, surpassing its previous record from January 2022. The S&P…

Crypto fund inflows hit 2-year high; Bitcoin whales explore new crypto AI altcoin

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The frenzy surrounding the anticipated bull market peaked in late November as crypto fund inflows hit two-year highs. $346 million were recorded in net inflows, the largest since the last bull market in 2021. Amidst this, Bitcoin (BTC) and Ethereum (ETH) reached price levels last seen in 2022. Optimism around the approval of crypto spot ETF products can be linked to the current market upswing and surge in crypto…

Bitcoin ‘sodlers’ dump $4B in two days as BTC sales hit 18-month high

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Bitcoin (BTC) speculators panic sold as the BTC price corrected toward $40,000, the latest on-chain data suggests. Figures from on-chain analytics firm Glassnode show short-term holders (STHs) offloading more than $2 billion in BTC on Dec. 12 alone. Bitcoin short-term holders set 18-month selling record Bitcoin saw its biggest single-day drop of 2023 this week — one which at one point totaled 8.1%, data from Cointelegraph Markets Pro and TradingView confirms. BTC/USD 1-week chart. Source: TradingView Reacting, the more speculative subsection of the Bitcoin investor base followed in step, reducing…

Active Addresses on Litecoin Network Reach Record High Four Months after LTC Halving

The number of daily transactions on the Litecoin network reached an all-time high of 1.09 million on November 14, surpassing even Bitcoin’s transaction count of around 523,284 at the same time. In a remarkable turn of events, the Litecoin (LTC) network has experienced an impressive surge in active addresses, achieving a new all-time high merely four months after the recent halving in August. As of December 8, 2023, blockchain data analytics company IntoTheBlock said the protocol had achieved a new milestone, with the number of active addresses on the Litecoin…

Helium Token Balloons To 85% For A Yearly High

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After rising sharply from the $2.00 bottom, Helium (HNT) demonstrated a strong upswing that further fueled the market’s positive attitude and increased the momentum of the advance. This week has witnessed bull action for the Solana-based Helium Network’s HNT coin, which has seen a 70% weekly rise to $4.86. Based on the most recent data, HNT, which has a market cap of about $700 million and an amazing $10 billion in trading volume as of press time, quietly touched a yearly high of $5.12 over the weekend after seeing a…