Author: NBTC
Some of the factors that influence the blockchain gas fees include network demand, transaction priority, and complexity. New protocol implementations (forks) and tokens’ standardization directly affect fees and network load. The problem of the optimal setting of fees in the blockchain network has resulted in the conflict between the accessibility of a network and its stability. The price of gas which is the transaction fee in the blockchain network has recently emerged as one of the hot topics of discussion in the cryptocurrency world. These fees that vary depending on one factor or another are essential in defining the effectiveness…
The price of Bitcoin (BTC) fell by almost 12% today, triggering massive liquidations worth over $1 billion. Explanations range from jump trading selling to an impending recession in the U.S. economy. Whatever the real reasons for such a collapse, the market is clearly being driven by extreme fear, uncertainty and doubt at the moment. What is certain, however, is the question of what’s next. To answer that question, Peter Brandt, a legendary trader who has been in the market since the 1970s, has issued a new Bitcoin price update. However, the outlook is based on a comparison between BTC and…
In a recent interview with Kitco News, Peter Schiff, the chairman of SchiffGold and founder of Euro Pacific Asset Management, made bold predictions about the future of the U.S. economy. Schiff argued that the Federal Reserve’s upcoming actions will lead to severe consequences for the U.S. dollar and global financial markets. He suggested that the Federal Reserve’s decision to cut interest rates would be a catastrophic error. According to Schiff, this move will allow inflation to run unchecked and expose the Fed’s inability to control the situation. Schiff contends that once the Fed cuts rates, inflation will spiral out of…
Charles Hoskinson, the CEO of Cardano research and development company Input Output Global (IOG), highlights the importance of consensus building within the network. The top crypto entrepreneur and developer characterized consensus building as Cardano’s hidden superpower and major competitive advantage. Hoskinson made this known during a fireside chat with IOG Chief of Staff J.J. Siler and Cardano Foundation CTO Giorgio Zinetti at the Rare Evo 2024 convention. The premier blockchain event happened in Las Vegas between August 15 and 17, 2024. Cardano’s Hidden Superpower and Competitive Advantage During the fireside chat, Hoskinson spoke on several issues, including identifying the factor…
Orderly Network has announced that it will wind down its NEAR instance on September 18. This decision is part of a strategic shift to focus more on EVM (Ethereum Virtual Machine) trading and to integrate new chains. It aims to maximize trading volumes in the decentralized finance (DeFi) sector. This was posted on the official X account of the company and said that it will enable the network to focus on critical areas for the future growth of the business. ‼️ Important update:Orderly Network is winding down its NEAR instance on September 18 in order to prioritize EVM trading, as…
Hunter Horsley, the chief executive of asset management firm Bitwise, forecasts a bullish uptrend for Bitcoin in the near future, despite the current crypto market crash. He believes that as the economic situation in the United States worsens, money currently “parked” in equities and traditional investments will flow into Bitcoin (BTC) as a safe haven. In an X (formerly Twitter) post, Horsley stated his belief that the Federal Reserve will continue to cut interest rates, which will further push the price of BTC higher. I think we will look back on today as the setting of the stage for an…
Federal Reserve officials are heading into their policy meeting on Tuesday with a lot of optimism, and some uncertainty too. Inflation is finally cooling off, edging closer to their 2% target. But the big question remains:- How much will they ease up on interest rates? Recent data shows price pressures have eased so much since the wild surge in 2021-22. 12-month consumer inflation is at its lowest since February 2021. Wholesale prices are also under control, suggesting that upstream costs aren’t pushing inflation anymore. So, what’s the holdup at the Fed? The debate intensifies With inflation numbers looking friendlier, the…
The beta testing of the Ripple stablecoin Ripple USD (RLUSD) on Ethereum and the XRP Ledger (XRPL) is showing progress. Notably, Ripple issued 185 RLUSD at 21:38 UTC as part of the beta testing, causing a stir among community members. This marked the first instance of an official issuance from Ripple during the beta testing. Ripple just issued 185 #RLUSD ! https://t.co/5x36laVRD1 pic.twitter.com/3Iv7T4lPmG — Vet 🏴☠️ (@Vet_X0) August 21, 2024 Following the transaction, questions were raised about transaction fees and the role XRP would play in relation to RLUSD. Vet responded by emphasizing that the transaction fees were minimal and…
Base Blockchain, the layer-2 network launched by Coinbase in 2023, is doing well as the ‘crypto winter’ continues. Nansen data shows that the network’s number of users is growing and beating many blockchains like Avalanche (AVAX), Polygon (POL), and Cronos (CRO). The number of active addresses jumped to a record high of over 1.964 million, up from the year-to-date low of 196,000. Base network active addresses | Source: Nansen Another number reveals that the number of transactions handled by Base Blockchain has jumped to 4.8 million, up from January’s low of less than 300,000. Meanwhile, the number of daily deployments…
Ethereum’s (ETH) price depends on holding the critical $1,900 level to prevent a potential decline. This level will decide if ETH gains upward momentum or faces further downward pressure. With the market’s current condition, the next moves for the altcoin will hinge on whether it can surpass this key threshold or succumb to a decline. Ethereum Realized Price Breakdown Could Trigger a Drop According to the Market Value to Realized Value (MVRV) pricing bands, which often signal extremes in unrealized profits or losses, Ethereum’s mean Realized Price currently stands at $1,911. This level is critical for the altcoin’s future performance,…