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Australian blockchain startups are taking tech giants to court for banning crypto advertisements during the ICO boom, Coinsquare executives have settled over accusations of wash trading and South Korea is mulling increased taxes on crypto profits. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and
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Ethereum fees are at a two-year high as the hype around decentralized finance (DeFi) leads to a surge in network activity, according to Coin Metrics. DisclosureThe leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial
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The median transaction fees on the Ethereum blockchain have been above Bitcoin’s for over a month.Data aggregator Messari noted that an explosion of activities on Ethereum-backed decentralized finance and stablecoin projects shot its fees higher.It further stated the Ethereum’s consistent uptrend shows that its demand is not slowing down.Ethereum has
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The past few weeks have seen Ether stall in terms of price action, with the cryptocurrency trading between $210-240. Not the same can be said about Ethereum’s underlying blockchain activity.Due to a perfect storm of events, the number of users of the network has skyrocketed.Blockchain analytics firm Santiment reported last
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Ethereum has seen a decentralized finance craze over recent weeks.Due to innovation, high returns on investments, and other attractive characteristics, DeFi has gone parabolic. Data from DeFiPulse shows that the value of cryptocurrency locked in blockchain finance applications has reached $1.6 billion. This isSimultaneously, DeFi-related tokens like Compound’s COMP and
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The median transaction fees on the Ethereum network are the highest they have been in two years and have risen above Bitcoin fee for the second time in the last three months. Recently, Coinbase researcher Max Bronstein tweeted the chart below and suggested that the most recent surge seems to be
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There has been a boom in demand for Ethereum in recent times, with much of this stemming from the explosive growth of the DeFi sector.Although this demand has yet to result in any type of bullish price action, it does appear that its growing utility is bolstering its macro outlook.That
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This week digital currency enthusiasts have been discussing network fees, specifically transaction fees associated with the Bitcoin and Ethereum blockchains. Last Sunday on June 21, one Ethereum proponent noted that during the last 16 days, Ethereum users have paid more to leverage the network than Bitcoin users.Digital currencies like
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After a week of searches, it appears that the culprit behind at least two of the anomalous high fee transactions on Ether (ETH) was found.As reported by Chinese blockchain analytics company PeckShield on June 16, the originating address appears to be coming from Korean platform GoodCycle, a recently launched peer-to-peer
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The average transaction fees for Bitcoin have dropped under the $1 mark, and are back to levels not seen since before the rewards halving. According to data from crypto analytics website BitInfoCharts, from May 20 until June 14, Bitcoin (BTC) transaction fees decreased by 91% from $6.65 to $0.56. This follows
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