The Central Bank of the Philippines revealed that it aims to conclude the ongoing wholesale CBDC pilot, Project Agila, later this year. The pilot, which currently includes the participation of six local financial institutions, might be the gate for democratizing access to securities according to Deputy Governor for Payments and Currency Management Sector Mamerto Tangonan. […]
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Bitcoin transaction fees have experienced an unprecedented surge, doubling in just one week, as the market rallies towards the coveted $70,000 mark. This surge cannot be solely attributed to the upward trajectory of Bitcoin’s price but is significantly influenced by the sudden rise in Ordinals transactions. Related Reading: Dogecoin Prospects Looking Good: Top Traders Predict $1 Price Tag Ordinals: A Driving Force Behind Fee Escalation Amidst the fervor of Bitcoin’s price rally, Ordinals transactions have emerged as a driving force behind the surge in transaction fees. Our in-depth analysis reveals that Ordinals, which started the week with approximately 48,000 daily inscriptions, witnessed an extraordinary surge, surpassing 93,000 by March 8th. This surge in daily inscriptions has not only contributed to a substantial increase in fees, with the daily average fee standing at around eight BTC but has also added a staggering $3.8 million to the total network fees for the week. Bitcoin market cap currently at $1.3 trillion. Chart: TradingView.com Bitcoin Fees Break Records, Reflecting Market Dynamism Bitcoin’s fee trend for the week has been nothing short of dynamic. While the initial daily fees stood at around 46 BTC, the momentum gained pace around March 5th, surging to an impressive 103 BTC. Towards the end of the week, the daily fee decreased slightly to around 40.7 BTC. Despite the decline, the overall trend indicates a significant increase in daily fees compared to the preceding week, showcasing the dynamism and resilience of the Bitcoin market. Bitcoin’s Ascent Towards $70K And Its Ripple Effect As Bitcoin teeters on the edge of the $70,000 price range, the cryptocurrency market is on the brink of a potential breakthrough. At the time of reporting, Bitcoin was trading at about $68,950, marking a 10% increase in the last seven days. Bitcoin price action in the weekly chart. Source: Coingecko A Closer Look At Bitcoin’s Fee Surge Examining data provided by IntoTheBlock, it becomes evident that Bitcoin’s recent fee surge is not merely a consequence of its price rise. The notable increase in transaction fees, doubling compared to the previous week, is closely tied to the upward movement in the price of BTC. Bitcoin fees more than doubled this week, with Ordinals-related transactions hitting a monthly high. pic.twitter.com/YXh9oMMYSK — IntoTheBlock (@intotheblock) March 9, 2024 This movement has propelled transaction volumes to their highest levels in months, with NewsBTC’s analysis revealing a staggering volume surpassing $100 billion on March 5th and 6th, a level not witnessed since November 2022. Related Reading: Shiba Inu Mania: Price Surges 60% As Burn Rate Heats Up Over 22,000% Ordinals’ Remarkable Contribution To Bitcoin Fees NewsBTC’s detailed evaluation of Ordinals transactions over the past week sheds light on the remarkable contribution of this sector to Bitcoin’s escalating fees. With daily inscriptions skyrocketing and daily fees averaging around eight BTC, Ordinals has made a significant impact on the cryptocurrency landscape, contributing over $430 million in fees to date. Featured image from Karolina Grabowska/Pexels, chart from TradingView
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Since the beginning of the last quarter of 2023, artificial intelligence (AI)-related crypto tokens have not only outperformed the top two crypto assets but have also outpaced key AI stocks such as Nvidia and Microsoft. According to a report by Coinbase, much of this market-beating performance of AI-related tokens can be attributed to AI headline […]
Was wondering whether .arb domains by space id work on blockchains other than arbitrum. Let's say, can I transfer Optimistic ETH to this address? and ETH will show up on OP wallet. submitted by /u/optimistic_deeman [link] [comments]
Chainlink’s LINK price is moving higher above the $20.00 resistance. The price is now up over 5% and might aim for a move toward the $25.00 resistance. Chainlink price is showing positive signs above $20.00 against the US dollar. The price is trading above the $20.50 level and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $20.00 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could rally further if it clears the $22.00 resistance zone. Chainlink (LINK) Price Eyes More Upsides In the past few sessions, Chainlink bulls were able to send the price above a few key hurdles at $18.50. Earlier, LINK price formed a base above the $16.75 and started a fresh increase. There was a break above a key bearish trend line with resistance near $20.00 on the 4-hour chart of the LINK/USD pair. The bulls pumped the pair above the $22.00 level. A new multi-month high was formed at $22.85 before the price started a downside correction. There was a move below the $22.00 level. The price declined below the 23.6% Fib retracement level of the upward move from the $16.75 swing low to the $22.85 high. LINK is now trading above the $20.50 level and the 100 simple moving average (4 hours). The price is up over 5% and outpacing both Bitcoin and Ethereum. If the bulls remain in action, the price could rise further. Immediate resistance is near the $21.80 level. Source: LINKUSD on TradingView.com The next major resistance is near the $22.00 zone. A clear break above $22.00 may possibly start a steady increase toward the $23.00 and $24.20 levels. The next major resistance is near the $24.80 level, above which the price could test $25.00. Are Dips Limited? If Chainlink’s price fails to climb above the $22.00 resistance level, there could be a downside correction. Initial support on the downside is near the $21.00 level. The next major support is near the $20.00 level or the 50% Fib retracement level of the upward move from the $16.75 swing low to the $22.85 high, below which the price might test the $18.80 level. Any more losses could lead LINK toward the $17.65 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. Major Support Levels – $21.00 and $20.00. Major Resistance Levels – $22.00 and $23.00.
I am not tech savy. I read that the upcoming Dencun upgrade is to solve the data availability problem to facilitate the layer 2 scalability. But I also read Eigenlayer and Celestia also tackle this issue. So I wonder, after the upgrade, are solutions like Eigenlayer and Celestia still needed? submitted by /u/maddhy…
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For the pass few years I have been bridging with 1inch. They are the cheapest platform to swap and bridge. It was convenient and trusted. I don't get why they banned it from being used in USA. Can someone explain what happened and why the disallowed it from certain regions? Are there any cheap bridges…
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