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The proliferation of layer 2s, which have been developed to help Ethereum scale and increase its capacity, has also contributed to bringing down fees, the report noted. While the development is positive for Ethereum users who can execute transactions cheaper than before, it impacts ETH's supply by keeping it inflationary
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Over 1.2% of the token’s supply was destroyed in line with plans, a co-founder said. Original Source
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Bitcoin’s on-chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high. According to on-chain analytics firm Glassnode, “Miners have been sending a significant
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Mining refers to the process of verifying and adding new transactions to a blockchain network, such as in the case of Bitcoin (BTC) or other cryptocurrencies. The economics of mining refers to the economic incentives and costs associated with the mining process, as well as its impact on the broader
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That was not the case for websites selling illicit goods other than drugs, for example, stolen personal data – their fortunes continued to go down. For example, Brian Dumps, was the biggest shop for stolen banking data in 2022, but for unknown reasons, its revenue fell almost to zero in
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Crypto exchange Coinbase saw a huge fall in its transaction revenues in the third quarter after activity fell amid a broader market downturn, but managed to cut its losses in half compared to the prior quarter.In its shareholder letter released Nov. 3, the company shared that transaction reven had fallen
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The company said the combination of falling bitcoin prices and high global energy prices presented a “challenging earnings environment.” Source
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The payments firm beat analysts’ revenue estimates, but the company said sales were down year-over-year due to a decrease in bitcoin revenue. Source
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Bitcoin miner revenues have been plummeting ever since the price of BTC peaked back in November. This has put miners in a tight spot, causing a good number of them to sell their BTC holdings in order to keep financing their operations. The same was the case for last week,
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Bitcoin miner revenues have been in decline since the bear trend began and this has led a good number of miners to sell their BTC holdings in order to keep their operations afloat. However, the expectation that the bear market would soon resolve and miners would once again be in
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