The transaction fees of the Cardano network reached a new high of $15.2K on May 29, 2023, the highest level since Aug. 11, 2022. This shows that the network activity and demand have increased significantly. However, compared to Bitcoin and Ethereum, the two leading cryptocurrencies by market cap, Cardano still has the lowest transaction fees.
Author: jose
The cryptocurrency industry is facing a legal challenge from the U.S. Securities and Exchange Commission (SEC), which has accused Gemini Trust Co., a crypto exchange, and Genesis Global Capital, a bankrupt lender, of violating securities laws with their Earn product. Earn was a service that allowed Gemini users to lend their digital assets to Genesis and earn interest on them.
Bitcoin, the world’s largest cryptocurrency by market capitalization, has been experiencing a downward trend in recent weeks, dropping from its all-time high of over $69,000 in November to below $28,000 as of today. However, not all investors are deterred by the bearish sentiment, as some smaller holders, known as shrimps, have been accumulating more Bitcoin despite the price decline.
Stablecoins are cryptocurrencies that are designed to maintain a stable value relative to a fiat currency or a commodity. The two largest fiat-backed stablecoins in the market are Tether (USDT) and USD Coin (USDC), both of which are pegged to the US dollar. However, despite their similar function and design, these two stablecoins have different histories, features, and challenges.
Shiba Inu (SHIB) is one of the most popular memecoins in the crypto space, but it is also a project with ambitious plans for the future. One of the most anticipated developments for SHIB is the launch of its own layer-2 blockchain, called Shibarium.
In a surprising move, Digital Currency Group (DCG), one of the largest and most influential crypto companies in the world, announced that it will close down its institutional trading platform TradeBlock by the end of this month. TradeBlock, which was acquired by DCG in 2020, provides trade execution, data analytics, and prime brokerage services to institutional investors and traders in the crypto space.
Nike’s first NFT sneaker collection, OF1, has made a splash in the crypto space, generating over $1 million in sales in less than a week. The collection, which features a little over 106.000 unique digital sneakers inspired by Nike’s iconic Air Force 1 model was launched on the SWOOSH Web3 platform on May 24.
The cryptocurrency market has been experiencing a turbulent period. One of the factors that have contributed to this volatility is the instability of some stablecoins, which are supposed to maintain a fixed exchange rate with fiat currencies such as the US dollar.
Coinbase, one of the leading cryptocurrency exchanges in the world, has been developing its own layer-2 network for Ethereum, called Base. It is designed to offer a low-cost, secure, and developer-friendly way to build on-chain solutions that leverage the power of Ethereum.
The crypto-asset ecosystem is undergoing rapid changes and innovations that pose new challenges and risks for regulators and financial stability authorities.