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Is Ethereum's future about to rocket with the new stablecoin act?

‘Legitimizes Ethereum like never before:’ All about the new Stablecoin Act

Bitcoin has broken down dramatically, and it may cause serious issues

Bitcoin (BTC) Drops Below $60,000, Ethereum (ETH) Says Goodbye to $3,000, Solana (SOL) Strength Disappears: Is Bull Market Over?

Thruster Finance, a decentralized exchange that is working on the Layer 2 storage installed in Ethereum called Blast, just has raised $7.5 million in seed funding, which now is going to bring about a new stage of increase and innovation. The fundraising event, spearheaded by Pantera Capital, was a big turning point for Thruster, as

Thruster Finance Secures $7.5M in Seed Funding to Boost DeFi Innovations

A key metric reached a critical level, which on two prior occasions, resulted in massive altcoin rallies

Why Bitcoin’s halving will be better for Ethereum, XRP, BNB price predictions

Not only has Ethereum (ETH) seen an impressive rise of nearly 100% in the first quarter of 2024 in terms of price action, but the Ethereum blockchain has also generated substantial profits of up to $369 million during this period. This unexpected profitability has raised questions about how a blockchain like Ethereum can be profitable. Ethereum Revenue Potential As noted in a recent analysis by the on-chain data platform Token Termina, the collection of transaction fees is a critical aspect of Ethereum’s business model. All network users are required to pay fees in ETH when interacting with applications on the blockchain, which serves as an important source of revenue for Ethereum. Once transaction fees are paid, a portion of the ETH is burned and permanently removed from circulation. This process, commonly referred to as “ETH buyback,” benefits existing ETH holders, as the reduction in supply increases the scarcity and value of the remaining ETH tokens. Thus, the daily burning of ETH contributes to the economic benefit of those holding Ethereum. Related Reading: Here’s What Would Happen If The Bitcoin Price Fell Below $58,000 In contrast to the burning of ETH, Ethereum also issues new ETH tokens as rewards to the network’s validators for each new block added to the blockchain. These rewards are similar to traditional stock-based compensation and are designed to incentivize validators to secure and maintain the network’s integrity. Nonetheless, it’s important to note that the issuance of new ETH tokens dilutes the holdings of existing ETH holders. According to Token Terminal, the difference between the daily USD value of the burned ETH (revenue) and the newly issued ETH (expenses) represents the daily earnings for existing ETH holders, essentially the Ethereum blockchain owners. This calculation allows for the determination of Ethereum’s profitability on a day-to-day basis. Reduced Transaction Costs Drive $3.3 Billion Growth In addition to the overhauled revenue model implemented by the Ethereum blockchain, the launch of the much-anticipated Dencun upgrade to the Ethereum ecosystem at the end of the first quarter of 2024 brought significant changes, including the introduction of a revolutionary data storage system called blobs. This upgrade has reduced congestion on the Ethereum network and significantly reduced transaction costs on Layer 2 networks such as Arbitrum (ABR), Polygon (MATIC), and Coinbase’s Base. Implementing the Dencun upgrade, alongside the adoption of blobs and Layer 2 networks, has significantly impacted Ethereum’s revenue. According to Token Terminal data, the blockchain’s revenue has witnessed an 18% annualized increase, amounting to an impressive $3.3 billion. These revenue gains can be attributed to reduced transaction costs, making Ethereum a more attractive platform for users and developers. Related Reading: Bitcoin To $455,000: Expert Echoes Previous Halving Pattern Despite the positive revenue growth, it is essential to acknowledge the impact of market corrections and dampened investor interest in the second quarter of 2024. Over the past 30 days, Ethereum’s revenue has declined by over 52%. This downturn can be attributed to the broader market dynamics and the temporary decrease in investor enthusiasm. Examining the data over the past 30 days, Ethereum’s market cap (fully diluted) has decreased by 15.2% to $358.47 billion. Similarly, the circulating market cap has declined by 15.2% to reach the same value. Additionally, the token trading volume over the past 30 days has declined 18.6%, totaling $586.14 billion. ETH is trading at $3,042, up 0.4% in the last 24 hours. It remains to be seen whether these changes and the reduction in fees will have the same effect in the second quarter of the year, and how this, coupled with a potential increase in trading volume, can push the ETH price to higher levels. Featured image from Shutterstock, chart from TradingView.com

Ethereum Blockchain’s Q1 2024 Success: Unveiling The Factors Behind The $370M Profit Surge

Cardano Foundation CEO Frederik Gregaard has recently unveiled the interim constitution of Cardano. This represents a major change towards decentralization of governance in the Cardano community. The interim constitution will specify basic principles, including transparency, accountability, and responsible management. The objective of these guidelines is to provide each ADA owner with the possibility to actively The post Cardano CEO Unveils Interim Constitution, Signals New Governance Era appeared first on CoinGape .

Cardano CEO Unveils Interim Constitution, Signals New Governance Era

Amidst key metrics recovery, Shiba Inu’s Shibarium transactions surged by an outstanding 160% within 24 hours. Shibarium Retraced Transaction Volume Boost Data from Shibariumscan shows that transactions on the Ethereum Layer-2 scaling solution reached 562,980 as of press time. This is a significant increase from 352,000 registered by the network a few hours earlier. At The post Shibarium Transactions Up 160% As SHIB Pushes For Recovery appeared first on CoinGape .

Shibarium Transactions Up 160% As SHIB Pushes For Recovery

Ethereum has seen slow growth amid the recent market crash, and partly fueled by the fading expectation of SEC approving Ethereum ETFs in may. ETH has experienced losses by 15% in the past week, facing resistance at $3,550, with Bitcoin also making a substantial pullback. Despite this downtrend, some Ethereum-based cryptocurrencies have shown significant growth The post 3 Ethereum Altcoins Outperforming Solana Today appeared first on CoinGape .

3 Ethereum Altcoins Outperforming Solana Today

Significant volumes of USDT were moved from Tether's reserves to exchanges within the Ethereum ecosystem.

318M USDT flow into Ethereum: Good news for ETH’s price?

Recently, former Ethereum developer Virgil Griffith has submitted a motion pleading for leniency in his sanctions violation sentence. Griffith’s attorney, Glen Garrett McGorty, representing the client, made the plea to Judge Kevin Castel in April 2024. The motion seeks a reduction in Griffith’s prison term in light of recent amendments to U.S. sentencing guidelines. Griffith The post Former Ethereum Developer Virgil Griffith Pleads for Leniency in Punishment appeared first on Coin Edition .

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