The macroeconomic and geopolitical environment surrounding crypto and the whole global economy has had its impact on the price action of cryptocurrencies in general, with the war in Ukraine as the overarching geopolitical disaster moving energy and commodities prices to dangerously high levels. However, In the United States, the Federal Reserve’s FOMC (Federal Open Market…
The Ethereum EIP-1559 has now burned 2 million ETH. The burning mechanism, which became active after the London hard fork in August 2021, is part of the effort to keep the token deflationary. As of press time, over $5 billion worth of Ethereum tokens has been burnt at their current value. Over $5 billion ETH…
Ethereum is undoubtedly the leading blockchain in DeFi, but this could be about to change as analysts at JPMorgan have noted that the dominance of the asset in the space could already be fading. According to the analysts, the rise of smart contract-enabled protocols like Terra, Avalanche, and Solana have shown that the lead of…
Binance Smart Chain (BSC) has finally activated its BEP-95 upgrade which would lead to the phase out of the old manual burning method to an automatic burning mechanism. Though the burning mechanism shares a few similar features with that of Ethereum’s EIP-1559, there are quite a number of differences in both burning methods. Binance’s BEP-95…
Binance has pulled a new trick out of its bag as it plans to introduce a real-time burning mechanism, Binance Evolution Protocol, BEP-95, to its Binance Smart Chain (BSC) network. This was announced via a press statement issued by the largest crypto exchange by trading volume recently. Binance proposed BEP-95 upgrade According to the released…