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Economy Enters Into Recovery Phase: Will Cryptos Pump Soon? Raoul Pal, the co-founder and CEO of Real Vision, predicted that Bitcoin (BTC) and Ethereum (ETH) Spot exchange-traded funds (ETFs) could be approved as early as Q4 this year. In an interview with Coin Bureau Clips, he also mentioned that the global economy is busy slowing down, and may continue to do so for the next 2 quarters.

Economy Enters Into Recovery Phase: Will Cryptos Pump Soon?

Raoul Pal, the co-founder and CEO of Real Vision, predicted that Bitcoin (BTC) and Ethereum (ETH) Spot exchange-traded funds (ETFs) could be approved as early as Q4 this year. In an interview with Coin Bureau Clips, he also mentioned that the global economy is busy slowing down, and may continue to do so for the next 2 quarters.

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Just One Game on Solana Is Doing More Daily Transactions Than All of Polygon SAGE Labs, the browser-based sci-fi game experience on Solana from the Star Atlas team, saw over 2.29 million transactions on Sunday—surpassing the total for the entire Polygon network by about 256,000 transactions. According to data from analytics platform Flipside Crypto, Star Atlas’ SAGE Labs experience has seen over 16 million total transactions since it launched last month. The browser game is a fully on-chain experience, with nearly every interaction requiring the user to sign with their wallet on the Solana blockchain, triggering a small gas fee to verify each transaction.  #solana #hpn #crypto2023 #bots
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Ethereum Inflation? ETH Supply Has Grown by $47 Million in 30 Days The growth has largely been driven by a corresponding lack of transaction activity on the blockchain network. Ethereum fans widely hyped last year’s merge as a decisive event that would permanently establish ETH as “ultrasound money.” Ethereum’s historic transition from proof of work to proof of stake last September reduced ETH issuance by 90%; many so-called Ethereum maximalists were convinced the change would clinch ETH’s status as a deflationary currency that would only, thereafter, appreciate in value.  A year later, things aren’t looking so certain. AD In the last 30 days alone, global ETH supply has surged by nearly 30,000 ETH, equivalent to roughly $47.9 million at writing, according to data aggregator ultrasound.money. That sharp uptick in the amount of ETH in circulation is mostly thanks to an equally stark decline in transaction flow on the Ethereum network: far fewer NFT trades, and much less DeFi activity.  Since 2021, the Ethereum network has operated on a fee-burning mechanism: the more traffic on the network, the more gas prices—which are required to complete on-chain transactions—rise. The higher gas prices are, the more ETH is “burned” by the network, or permanently removed from circulation.  As of late, Ethereum gas fees have dropped remarkably low—an average network transaction currently costs 7 gwei, or just $0.24. An average transaction on NFT marketplace OpenSea costs about $0.94. Contrast that with just over a year ago: during the sale of Yuga Labs’ Otherside collection last May, for example, network users burned over $157 million worth of Ethereum to mint just 55,000 virtual land deed NFTs: an average of $2,854 in fees alone per transaction. While low gas fees might be good for the average Ethereum user, they also lead to the burning of less ETH—and thus, surges in global ETH supply. 
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Vitalik Buterin proposes two-tier model to address ‘centralization challenges’ in Ethereum staking Ethereum’s founder, Vitalik Buterin, unveiled an innovative proposal this week aimed at refining the platform’s staking mechanism. As the world’s second-largest blockchain by market capitalization, Ethereum’s continued evolution is crucial for its vast user base, and these proposed changes aim to bolster decentralization, efficiency, and security. A Decentralized Vision for Staking The primary concern addressed in Buterin’s proposal revolves around the limitations of the current staking system
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Biggest DOGE Fan Elon Musk Scores New Record on X App Now, Musk has surpassed the 159 million threshold of followers on this app. Musk is the world's wealthiest man with a net worth of $259 billion as of the start of September this year. Founder and former CEO of Amazon e-commerce giant Jeff Bezos comes second after Musk with $161 billion of net worth. Read more on U.Today https://u.today/biggest-doge-fan-elon-musk-scores-new-record-on-x-app
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The Whale, Who Sold All of His Arbitrum (ARB), Changes His Portfolio Again According to on-chain data, a cryptocurrency whale, who previously sold Ethereum (ETH) and Arbitrum (ARB) positions and converted them to Wrapped Bitcoin (WBTC) and Maker DAO (MKR), made a change in his portfolio again. In his previous transaction, the whale in question sold 117 million ARB, obtaining 906 ETH ($1.48 million) in the first step, and converted a total of 1,901 ETH coins into a stablecoin worth $3.11 million. Immediately afterwards, the whale wallet used $1.87 million of this to buy 68 WBTC and $1.24 million to buy 872 MKR.
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