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The bulls failed to stay put in the cryptocurrency market. Shiba Inu (SHIB) and its counterparts were seen drowning in the Red Sea. At press time, the asset was trading at $0.00001322, with a nearly 3% decline over the past 24 hours. SHIB went from a high of $0.0000135 to $0.0000126. Also Read: Ripple: Two Reasons Why Investors Should Hold Their XRP And Not Sell It Shiba Inu’s Market Performance And Potential Benefits Source Increase in Large Transactions Amidst this, Shiba Inu has an increase in large transactions. According to data from IntoTheBlock, SHIB saw a 171% rise in substantial transaction volume. This means that whales were making big moves in the meme coin market. But the asset’s price was plunging, which means there were more selling and internal movements than buying. Also Read: Cardano: How High Can ADA Spike This Weekend Post The Chang Hard Fork Potential Benefits From A Spike In The Global Market Cap The overall cryptocurrency market cap is currently at $2 t...

If someone asked you how many blocks (or minutes) they should wait to make sure their Bitcoin (BTC) transaction is irreversible, would you know what to say? The “rule of thumb” would be between three to six blocks (around 30 to 60 minutes), but experts say it should be even more. Different people could give different answers, and a recent post by Luke Dash Jr. (@LukeDashjr) — a Bitcoin Core developer — on X suggests that a 12-block waiting (around 120 minutes) is the safer approach, considering Bitcoin mining‘s current state. Indeed, probably should wait a good 12 blocks now — Luke Dashjr (@LukeDashjr) September 19, 2023 With that in mind, Finbold went deeper into understanding what is the safer confirmation time for a Bitcoin transaction . Bitcoin transactions have probabilistic finality Due to Bitcoin having what is called ‘probabilistic finality’, transaction s’ irreversibility increases for each new block added to the blockchain after the block that inclu...

It's been one of the most lucrative quarters for those that profit from Bitcoin transaction fees in nearly two years. Bitcoin (BTC) miners made a lofty $184 million from transaction fees in the second quarter, far more than what they pocketed over the entire 2022 — as Bitcoin’s price surged and BRC-20 tokens flourished. The $184 million payout is more than a 270% increase from the first quarter of 2023 and it is the first quarter to have surpassed the $100 million mark since Q2 2021, according to a July 5 report from cryptocurrency analytics platform Coin Metrics. Bitcoin miners earned more from fees in Q2 than the previous five quarters combined. Source: Coin Metrics Bitcoin miners receive transaction fees whenevea new block has been validated, the amount of which is determined by the data volume and the user demand for block space. Coin Metrics said the jump in fees was due to Bitcoin’s recent price surge bolstered ‘top-line revenues” and the advent of BRC-20, a new token stand...

Besides Ethereum, Bitcoin’s meme frenzy via Ordinals has steeply declined from its high in May. The average transaction fee or gas fee on the Ethereum network has cooled substantially in the first week of June after reaching a multi-month high in May, owing to the meme coin frenzy and many MEV Bot activities.  The average gas fee on Ethereum has come down to $7.34, almost one-third from last month's high of $20. In terms of Gwei, a denomination of Ether (ETH) that represents one-billionth of one ETH, the daily median gas price has decreased to 24 gwei from a peak of almost 140 gwei last month, according to data from Dune Analytics. Average gas fees on Ethereum in past six months. Source: Dune The meme coin frenzy started in late April and took center stage in May leading to multiple new memecoins hitting the markets such as Aped, Bobo and a few others. The dominance of memecoins was so high in network activity that it created an unusual shift in the top 10 gas-burning altcoins....

The shares were bought by FTX founder Sam Bankman-Fried and co-founder Gary Wang last year and have been tussled over since the collapse of FTX. Robinhood’s board of directors has approved a plan to buy back the $578 million stake in their company which was bought by former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang last year. Robinhood confirmed it got board approval to buy back the stake in its fourth quarter report, which was published on Feb. 8. “Our Board authorized us to pursue purchasing most or all of our shares that Emergent Fidelity Technologies bought in May 2022," said Robinhood’s chief financial officer Jason Warnick, adding “The proposed share purchase underscores the confidence the Board of Directors and management team have in our business.” The FTX co-founders bought 55 million shares of Robinhood stock — worth $578 million at current prices — in May through Emergent Fidelity Technologies by taking out loans directly from FTX’s sister firm Alameda Res...

According to the CEO, the exchange grew too fast to accommodate the fast-growing crypto ecosystem Cryptocurrency exchange Kraken announced on Nov 30, that it has made “one of the hardest decisions” to cut down its global workforce by approximately 1,100 people, making up approximately 30% of its total workforce , amid current market conditions. According to the CEO and co-founder Jesse Powell, Kraken had to triple its workforce due to the fast-growing crypto ecosystem, and the current pullback takes the company’s team size back to where it was 12 months ago.  Powell shared in a tweet; "Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto bound." Rough day at @krakenfx. Headcount rolled back 12 mos. Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto rebound. Better positioned now. Glad we were able to take good care of our former colleagues. Been a privile...