Bitcoin Ordinals Fees Crash 24% As BTC Dump Towards $25,000
The latest data on August 22 shows that the total daily fees generated from Bitcoin Ordinals on the world’s most valuable network have crashed from around $95,000 to $72,000, a 24% drop. The contraction mirrors the general performance of BTC prices which have been under pressure in the last two weeks, notably crashing last week and forcing […]
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Bitcoin prices are now trading above $30,000 for the first time in over eight months. The rally coincides with the discovery of an indexing bug in Ordinals protocol, a platform where users can mint non-fungible tokens (NFTs) on Bitcoin. The 1,200 Orphaned Inscriptions On Ordinals Protocol The bug in the Ordinals protocol was discovered to have led to approximately 1,200 inscriptions that were supposed to be included in Bitcoin being excluded though they were all valid. These “orphaned” inscriptions were because the indexing flaw only caused the protocol to pick out inscriptions in the....
CryptoFees data shows that Bitcoin daily fees averaged $10.65 million from November 16 to November 18, surpassing Ethereum’s average fee of nearly $7 million for the same period. Until 2024, the US Securities and Exchange Commission (SEC) is deferring decisions on several Bitcoin ETF applications, despite the market’s increasing optimism about the approval of a spot Bitcoin exchange-traded fund (ETF) in the US. This hesitation has coincided with a remarkable surge in the top crypto’s average transaction fees, soaring over 1,000% to reach a peak of $18.67 on November 16,....
Bitcoin miners have struck a proverbial goldmine, reaping an astonishing $107 million in profits, according to data from Glassnode, a leading analytics platform. This unprecedented windfall, amassed on April 20th, underscores a significant shift in the revenue dynamics of Bitcoin mining operations. Related Reading: Will Celestia (TIA) Hit $130? Analyst Makes Bold Prediction The meteoric rise in transaction fees serves as a bellwether for the evolving economic landscape of Bitcoin mining. As the network adapts to new market demands and technological advancements, transaction fees have....
After an evening of perusing the internets a post on reddit stuck out to me. “Bitcoin is being manipulated like other alt-coins” . The writer, mitchr4, goes on to explain that he is or has been an alt-coin trader for a while and has seen certain pump-and-dump patters emerge in the alt-coin industry. mitchr4 goes on draw parallels between the recent price spikes and downturns in the bitcoin market and the pump-and-dump nature of altcoins. mitchr4 goes on to explain how the pump and dump scheme works in bitcoin….
CoinTelegraph spoke with Cloak team member Cashmen about overcoming the initial pump and dump by the original team, resurrecting CloakCoin, transitioning from proof-of-work mining to proof-of-stake, and its upcoming "PoSA3" release. In mid-2014, the first wave of cryptocurrencies similar to bitcoin but with improved anonymization features came on the market. CLOAK or CloakCoin, was one of the first and most promising projects. The price of cloak shot up reaching nearly US$6 million in market capitalization and a price of US$11.5 dollars per cloak. “[In] the Cloak community remained only....