Transactions fees on the Avalanche blockchain surged to record highs yesterday, briefly reaching as high as $10.And while $10 seems like a bargain when compared to the astronomical fees users often encounter on Ethereum, many found the 10x increase in transaction costs unacceptable for a blockchain coveted for its affordability.Avalanche keeps breaking its own records, … [Read more...] about Avalanche fees spike to $10 as backers ironically criticize Ethereum
Spike
Ethereum (ETH) outflows spike to ATHs after dip to $4,000
On-chain data shows that Ethereum exchange outflows reached their all-time highs yesterday as ETH lost almost 15% of its value, dipping as low as $4,000.This shows that the majority of Ethereum holders retained their confidence in the token and have been buying the dip en masse.Ethereum holders were quick to buy yesterday’s dipWhile this week’s market correction might have … [Read more...] about Ethereum (ETH) outflows spike to ATHs after dip to $4,000
Loopring Surges 40%, Solana Replaces Cardano as 5th-Largest Coin as Ethereum Fees Spike
The average fee on Ethereum, known as gas, has risen by a staggering 2,300% since late June. It has more than doubled to $56 in the past two weeks alone, according to data provided by the blockchain analytics firm Glassnode, and the seven-day moving average of the mean transaction fee has hit a record high of $52. Source link … [Read more...] about Loopring Surges 40%, Solana Replaces Cardano as 5th-Largest Coin as Ethereum Fees Spike
Layer-2 Cardano “a necessity” as Hoskinson predicts a huge spike in network traffic
Cardano founder Charles Hoskinson calls Hydra “a high commercial priority,” due to an expected rise in the scale of traffic in the coming months. Especially in the near term, as projects in Africa begin to roll out.He added that, at the moment, research is still ongoing with Hydra. But, generally speaking, things are “converging” to a (version) “1.0.”Hydra is a layer 2 scaling … [Read more...] about Layer-2 Cardano “a necessity” as Hoskinson predicts a huge spike in network traffic
Ethereum supply flips briefly into deflation as gas fees spike
The theoretical deflationary properties of Ethereum’s London upgrade last week have already been seen in action on the blockchain with almost 800 "deflationary blocks" produced.A spike in the Ethereum transaction fee burn rate has resulted in at least two hours when the supply was deflationary. The network has come under heavy load over the past couple of days which has … [Read more...] about Ethereum supply flips briefly into deflation as gas fees spike