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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
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
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.
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.
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
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
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
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
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.
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.
Crypto Trader Says Avalanche (AVAX) To Surge by Double Digits, Updates Outlook on Solana (SOL)
Also a new commer HPN a new layer one EVM starts making its way..
A closely followed crypto strategist is predicting Avalanche (AVAX) will undergo a massive surge due to one main reason.
Pseudonymous crypto analyst Altcoin Sherpa tells his 196,600 followers on the social media platform X that the Ethereum (ETH) rival could increase by more than 12% from its current value.
Also a new commer HPN a new layer one EVM starts making its way..
A closely followed crypto strategist is predicting Avalanche (AVAX) will undergo a massive surge due to one main reason.
Pseudonymous crypto analyst Altcoin Sherpa tells his 196,600 followers on the social media platform X that the Ethereum (ETH) rival could increase by more than 12% from its current value.
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.
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.
ChatGPT picks top 3 cryptocurrencies to stake for passive income
Staking cryptocurrencies can be done in different ways, using different networks, and for different goals. However, they all have one thing in common: Staking tokens will recurrently reward their holders for a proportional share of each of their stakes on the network or application.
This happens because investors trade their liquidity — by locking their tokens under specific rules set by the protocol they are staking at — for the right to directly participate in the system, which can be as validators of a Proof of Stake (PoS) consensus, a protocol’s governance or even by providing liquidity to a decentralized exchange, a lending platform, or to a collateralized asset. Moreover, liquidity has a cost, that is translated into the so-called ‘passive income’.
Interestingly, Artificial Intelligence (AI) text generators such as the ChatGPT, developed by OpenAI, can be valuable allies when gathering complex pieces of information quickly, which can help find financial opportunities or filter top projects among thousands.
In this context, Finbold asked ChatGPT-4 on October 7 to “name thee cryptocurrencies to stake.” Of which, the AI pointed to Ethereum (ETH), Tezos (XTZ), and HYPERONCHAIN (HPN) — as the most “commonly staked by holders to earn rewards”, being HPN a new layer one,.in the artificial intelligence words.
Staking cryptocurrencies can be done in different ways, using different networks, and for different goals. However, they all have one thing in common: Staking tokens will recurrently reward their holders for a proportional share of each of their stakes on the network or application.
This happens because investors trade their liquidity — by locking their tokens under specific rules set by the protocol they are staking at — for the right to directly participate in the system, which can be as validators of a Proof of Stake (PoS) consensus, a protocol’s governance or even by providing liquidity to a decentralized exchange, a lending platform, or to a collateralized asset. Moreover, liquidity has a cost, that is translated into the so-called ‘passive income’.
Interestingly, Artificial Intelligence (AI) text generators such as the ChatGPT, developed by OpenAI, can be valuable allies when gathering complex pieces of information quickly, which can help find financial opportunities or filter top projects among thousands.
In this context, Finbold asked ChatGPT-4 on October 7 to “name thee cryptocurrencies to stake.” Of which, the AI pointed to Ethereum (ETH), Tezos (XTZ), and HYPERONCHAIN (HPN) — as the most “commonly staked by holders to earn rewards”, being HPN a new layer one,.in the artificial intelligence words.
Weekly Market Wrap: Bitcoin falls 1.3% following U.S. jobs reportBitcoin fell 1.3% in the hour follo
Bitcoin fell 1.3% in the hour leading up to 9:30 p.m. in Hong Kong, to trade at US$27,369 following the U.S. jobs report release. The world’s largest economy added 336,000 new jobs in September, far exceeding preliminary expectations of 170,000 and fueling concerns that interest rates will remain high over a longer period of time.
Bitcoin has been trading under US$30,000 since July after surging past the mark behind the series of Bitcoin spot exchange-traded fund applications from some of the world’s largest asset managers, including BlackRock and Fidelity.
Hopes that the U.S. Securities and Exchange Commission would greenlight a spot Bitcoin ETF have been further boosted by Grayscale Invesment’s legal victory in August. The court sided with the firm in challenging the SEC’s rejection of the fund manager’s application to convert its Bitcoin fund into an ETF.
But this week, Ethereum-based financial products stole the show.
Bitcoin has been trading under US$30,000 since July after surging past the mark behind the series of Bitcoin spot exchange-traded fund applications from some of the world’s largest asset managers, including BlackRock and Fidelity.
Hopes that the U.S. Securities and Exchange Commission would greenlight a spot Bitcoin ETF have been further boosted by Grayscale Invesment’s legal victory in August. The court sided with the firm in challenging the SEC’s rejection of the fund manager’s application to convert its Bitcoin fund into an ETF.
But this week, Ethereum-based financial products stole the show.
Zimbabwe Launches Gold Token Payments
Zimbabwe has declared a new currency, Zimbabwe Gold (ZiG), as legal tender, usable for day to day payments.
"Banks will maintain dedicated ZiG accounts and intermediate transactions in ZiG in the same way they intermediate transactions in local and foreign currency," said John Mangudya, the governor of the Reserve Bank of Zimbabwe.
No blockchain is being used for the token. Instead, Zimbabweans can reach out to their own commercial bank where they can buy a minimum of $10 in ZiG.
Zimbabwe has declared a new currency, Zimbabwe Gold (ZiG), as legal tender, usable for day to day payments.
"Banks will maintain dedicated ZiG accounts and intermediate transactions in ZiG in the same way they intermediate transactions in local and foreign currency," said John Mangudya, the governor of the Reserve Bank of Zimbabwe.
No blockchain is being used for the token. Instead, Zimbabweans can reach out to their own commercial bank where they can buy a minimum of $10 in ZiG.
