According to blockchain data from Nansen Analytics on Tuesday, over $1.096 billion worth of Ethereum (ETH) has been burned in the past month. With the introduction of the EIP-1559 last August, a portion of fees is taken out of circulation for every transaction that occurs on the Ethereum blockchain. While sending and receiving ETH does not cost much, higher-level tasks, such as … [Read more...] about $1B worth of ETH burned in the past 30 days due to record high OpenSea NFT transactions
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Cardano network at record capacity due to SundaeSwap launch, but not all users hail it as a success
According to both Cardano Blockchain Insight and pool.pm, the Cardano (ADA) network has maintained record capacity for nearly two weeks due to the launch of decentralized exchange, or DEX, SundaeSwap, the first of its kind to go live on Cardano. At the same time, the total value locked for the ADA blockchain reached a record of approximately $80 million, despite the recent fall … [Read more...] about Cardano network at record capacity due to SundaeSwap launch, but not all users hail it as a success
Anchor protocol’s reserves head toward depletion due to lack of borrowing demand
Anchor, the flagship savings protocol of the Terra Luna (LUNA) ecosystem, has seen its reserves decline by 35.7% in the past seven days according to Terra.Engineer. Since the beginning of December, the amount of Terra USD Stablecoin (UST) held in the "terra1tmnqgvg567ypvsvk6rwsga3srp7e3lg6u0elp8" smart contract has declined by over 50%, with only $35.7 million remaining.As a … [Read more...] about Anchor protocol’s reserves head toward depletion due to lack of borrowing demand
Goldman Bullish on Online Brokers’ 4Q Earnings Due to Crypto Activity, Retail Trading
Crypto exchange Coinbase, bank Silvergate Capital and trading platform Robinhood are expected to post the strongest results relative to estimates, the bank said in a note published Tuesday. Goldman expects total crypto-trading revenue at Coinbase and Robinhood to rise 62% and 18%, respectively, from the previous quarter. Source link … [Read more...] about Goldman Bullish on Online Brokers’ 4Q Earnings Due to Crypto Activity, Retail Trading
JPMorgan Says Ethereum’s DeFi Dominance at Risk Due to ‘Sharding’ Delays
Alternative blockchains such as Terra, Binance Smart chain, Avalanche, Solana, Fantom, Tron and Polygon have been gaining the most market share in the DeFi space, and these competitors have received a lot of funding and used incentives to increase usage in their own ecosystems, JPMorgan said. Source link … [Read more...] about JPMorgan Says Ethereum’s DeFi Dominance at Risk Due to ‘Sharding’ Delays