Ethereum’s Layer 1 network revenue has been in steep decline, plummeting 99% since March 2024.According to data from Token Terminal, network revenue peaked at over $35 million on March 5. However, by September 2, daily revenue had plummeted to around $200,000, a yearly low.Ethereum Profits (Source: Token Terminal)Market observers attribute the decline to the growth of Layer 2 (L2) networks and the March Dencun upgrade, which reduced L2 transaction fees and restructured Ethereum’s revenue structure. Token Terminal said:”A key indicator of how lower transaction fees on L2 have driven increased usage, but reduced revenue on L1.”Since the upgrade, trading activity…
Author: Crypto Flexs
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Wang Long Chai September 4, 2024 16:08 Pool Masters, from the makers of 8 Ball Pool, joins Immutable’s (IMX) Main Quest, bringing Web 3.0 rewards and player ownership to mobile pool gaming. Mobile pool gaming is about to undergo a huge transformation as Pool Masters, the latest from the team behind the hit game 8 Ball Pool, which has over 1 billion downloads, joins Immutable’s (IMX) massive web3 gaming rewards program, The Main Quest, according to immutable.com.A Billion Dollar Genre on the Verge of DestructionPool games have long been a staple of the mobile…
The Commodity Futures Trading Commission (CFTC) has filed charges against the company that runs Uniswap (UNI) for allegedly offering illegal cryptocurrency derivatives contracts. The regulator said in a new press release that it has imposed a civil penalty of $175,000 and issued a cease and desist letter to Uniswap Labs after it was found to have violated the Commodity Exchange Act (CEA). According to regulators, Uniswap Labs was never properly registered as a contract marketplace, but was operating as if it were. “Among the digital assets traded via the protocol and interface, there were a limited number of leveraged tokens,…
The Ethereum (ETH) price fell 5.2% between September 3 and September 4 after a strong rebound from the $2,550 resistance level, closing above that level for the first time in eight days. Traders are now concerned that Ether could underperform even if the broader crypto bull market resumes, as the incentives for fixed income in the U.S. are expected to diminish. So what exactly is putting pressure on Ether’s price?Will Ether Fall When the Tech Bubble Bursts?While some market participants may attribute the underperformance of cryptocurrencies to traditional financial market conditions, Ether also faces unique challenges, including low network fees,…
Token Project • September 4, 2024 1:51 PM EDT Posted 1 minute earlier ~ in Uphold CEO Simon McLoughlin has taken a hard-line stance on the long-term prospects for digital assets, but he finds the “fraudulent nature of certain segments” of cryptocurrencies disappointing.And for McLaughlin, the Mimecoin explosion is the biggest topic of conversation.“It’s depressing that we’ve reached a point where 7,000 new mimecoins are being created every day,” he told The Block in a recent interview. “This AI-driven mimecoin creation… is just going to devalue and destroy the entire segment.”Popular Mimecoin creation launchpad Pump.fun has earned $100 million in…
Rebecca Moen September 4, 2024 16:28 The BNB chain celebrates its 4th anniversary with the launch of the One BNB strategy, expanded developer support, and significant ecosystem growth. BNB Chain recently celebrated its 4th anniversary, marking the significant milestones and forward-looking initiatives of the past four years. According to the BNB Chain Blog, the celebration, known as ‘BNB Day’, highlighted the platform’s journey and future plans to further integrate blockchain technology into mainstream applications. One BNB Strategy: Ecosystem Integration This year, the “One BNB” strategy was introduced, a comprehensive initiative designed to integrate BNB…
At the time of writing, Ethereum was trading in a massive triangle formation, with analysts predicting a double bottom pattern. The increase in whale trading and active addresses suggests that the ETH price may rise. Ethereum (ETH) has faced significant challenges in recent weeks, continuing its downward trajectory in both price and market sentiment. Following last month’s price crash, ETH has continued to experience a bearish market trend. In the last 24 hours, the asset fell another 4.5%, reaching a trading price of $2,399, which is a further 2.3% drop in the overall market context. Despite this continued downtrend, some…
This article is also available in Spanish. Bitcoin Pressure is building as a key indicator signals a possible drop to $53,541. The cryptocurrency is struggling to gain a foothold in the volatile market as sellers gain momentum and technical charts flash red. Traders are watching closely to see if the downtrend will continue or if a reversal will occur. horizon BTC is hovering near a key support level. The next few days could be crucial in determining Bitcoin’s short-term trajectory. Bitcoin is facing an increasing situation. sales pressureIn this article, we look at recent bearish signals and analyze the key…
Caroline Bishop September 4, 2024 17:04 Learn how to make the most of your points in the Cronos (CRO) zkEVM Pioneer Program with detailed mission tasks and strategies. Launched on August 15, 2024, the Cronos (CRO) zkEVM Pioneer Program gives participants the opportunity to earn points by participating in various tasks within the Cronos ecosystem. According to Cronos Labs, these points can later be converted into rewards in participating cryptocurrencies, such as zkCRO tokens and tokens from other partner dApps.What is the Cronos zkEVM Pioneer Program?The Cronos zkEVM Pioneer Program is a rewards initiative…
Bitcoin (BTC) is trading at $57,450, down 22% from its all-time high of $73,835 recorded on March 14. Despite the recent bearish price action, analysts say the average Bitcoin investor is still “relatively profitable.”According to market intelligence firm Glassnode, Bitcoin investor profitability data shows that this decline is relatively shallow compared to historical bull cycles, suggesting that overall investors are in a relatively stable financial position.Taking the ratio between total unrealized gains and unrealized losses, Glassnode analysts found that “gains are six times larger than losses.” This ratio remains above current values for about 20% of trading days, highlighting the…