Ethereum racked up $1.2 billion in revenue from transaction fees in Q1 2024, or 155% more than in the first quarter last year.
Fees News
Cryptocurrency fees can be defined as money (usually in the form of one of the virtual currencies) that is paid as a on top of a transaction. The most common way to charge a fee is by taking a commission, i.e. some percentage from the amount of the transferred money. At the moment, a lot of transactions can be completed without any cryptocurrency fees unless the transaction includes a large amount of data. As miners function as the handler of transactions, they also receive commissions since each new block of the blockchain consists of their operations and, for example, a fee from Bitcoin as well. It is optional to require a commission, but any user that has found a block can include fees by their own choice. In the future, when the rewards for creating a new block will be reduced, miners will get most of their profit directly from the fees.
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The devs argue that raising the gas limit to 40 million will cut Ethereum’s layer-1 transaction fees by 15%–33%.
9971The 350% jump in Base daily transactions came amid a vast reduction in fees following the Dencun upgrade.
8724The cumulative revenue for the cross-chain protocol which launched in July 2023 has reached $377,724.
8868Ethereum network activity growth supports the momentum, but excessive leverage in ETH futures poses a risk.
10740DEX users’ support of a fee share proposal for Uniswap appears to be backing UNI’s rally to a two-year price high.
1726Demand for Ether leverage sharply increased in the past 24 hours, but data does not point to liquidations being the main driver for the price correction.
12479Crypto infrastructure startup Conduit says users can now launch their very own layer 3 with “only a few clicks.”
2323Some Bitcoin ETF issuers will pull their funds as the tussle for market share and low fees heats up, while investors reap the rewards in the meantime, say analysts.
8336The spot Bitcoin ETF issuer said it will still use Coinbase’s custodian services as part of a move to diversify custodians.
5596The spot Bitcoin ETF fee war will not save the funds from being eventually pulled from the market, the Grayscale CEO believes.
5254The Dencun upgrade was implemented on Ethereum’s Goerli testnet, but a bug in Prysm kept the network from finalizing for nearly four hours.
2459Ethereum developers opposing Vitalik’s gas limit increase suggestion are concerned about the increasing size of the blockchain state.
4876Ethereum smart accounts are getting tweaked in an upgrade to reduce gas usage on layer-2 networks.
10130The price of Ethereum is down against Bitcoin and Solana at levels not seen in years, prompting some critics to predict Ether’s “death” on social media.
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