Lowest Ethereum Fees in Six Months
While gas fees on the Ethereum network dropped to a six-month low, the Ethereum price rose slightly over the weekend. According to crypto analysis platform Santiment, this could indicate an upcoming altcoin rally.
While gas fees on the Ethereum network dropped to a six-month low, the Ethereum price rose slightly over the weekend. According to crypto analysis platform Santiment, this could indicate an upcoming altcoin rally.
On April 27, the average transaction fee for Ethereum dropped to $1.12. Fees typically peak at market tops and fall to “resting state” lows at market bottoms, Santiment said.
He also suggested that lower gas fees could signal an increase in Ethereum network activity and the beginning of the altcoin rally. Ethereum price increased by 4.3% in the last week. While 74,458 new ETH was mined in the last 30 days, 57,516 ETH was burned, resulting in a net supply of 16,979 new Ethereum.
This follows five months of steady deflation following the network’s switch to a proof-of-stakeholder consensus mechanism called ‘Merge’.
ASX, Australia’s largest stock exchange, is expected to list approved spot Bitcoin ETFs by the end of 2024
According to Bloomberg, citing sources familiar with the matter, several issuers such as VanEck and local firms BetaShares and DigitalX filed ETF applications earlier this year.
The ASX handles approximately 80% of transactions in Australia and had a market capitalization of $2.7 trillion as of March.
ASX spokesperson said the company is crypto-asset-based ETFHe stated that he had been in talks with several publishers interested in accepting the ‘s. Australian investors have been trading spot Bitcoin ETFs listed on CBOE Australia since 2022. There are currently only two spot crypto funds in Australia.
South Korea to formalize crypto investigation unit amid rise in crimes
South Korea is taking steps to turn its temporary crypto investigation unit into a permanent unit due to the increase in crimes and fraud cases.
The country’s Ministry of Justice and the Ministry of Internal Affairs and Security announced in early May that they would begin talks on upgrading the Joint Virtual Asset Criminal Investigation Unit into an official department.
This upgrade will aim to consolidate the unit’s status as it currently operates as a temporary structure and is at risk of being disbanded, Segye Ilbo reported. The change aims to increase efficiency through the appointment of new prosecutors and budget allocation.
This unit consists of approximately 30 experts from seven financial and tax regulatory authorities and was established in July 2023 as South Korea’s first investigative unit focusing on digital asset crimes.
Crypto
Tether Made a Profit of $7.7 Billion
Tether announced the assurance report for the third quarter of 2024 published by BDO. While the company made a profit of $7.7 billion in the first nine months of the yearinvested $102.5 billion in US Treasury Bonds.
Tether announced the assurance report for the third quarter of 2024 published by BDO. While the company made a profit of $7.7 billion in the first nine months of the yearinvested $102.5 billion in US Treasury Bonds.
Tether announced the assurance report for the third quarter of 2024 published by BDO. While the company broke a record by making a net profit of 2.5 billion dollars in this quarter, its nine-month consolidated profit reached 7.7 billion dollars.
However, Tether’s equity capital increased to $14.2 billion and total assets reached $134.4 billion, reaching all-time highs.
The amount of USDT in circulation is at a record level
Additionally, ₮ broke a new record by increasing the amount of USDT in circulation to $120 billion, showing that global demand for its stablecoin is increasing. The USDT supply, which has grown by 30 percent since the beginning of 2024, has increased by $27.8 billion, reaching a level equal to the market value of its closest competitor.
In terms of reserves, it holds more than $105 billion in cash and cash equivalents in total, $102.5 billion of which is in U.S. Treasury securities. This enables Tether to maintain its commitment to liquidity and stability, while also allowing it to become the 18th largest treasury bond holder worldwide.
TetherIn line with ‘s long-term vision, private investments (₮ investments), which are not included in the reserves behind stablecoins, reached $7.7 billion. These investments in important sectors such as renewable energy, Bitcoin mining, artificial intelligence, telecommunications and education support ₮’s mission to promote global innovation.
Tether International Limited and ₮ Limited, which manage the company’s token reserves, stated that total assets were 125.47 billion US dollars as of September 30, 2024, while total liabilities were 119.38 billion US dollars. Of this, $119.38 billion is related to the issuance of digital tokens. As assets exceeded liabilities, the concentration in US Treasury securities reached 102.5 billion dollars.
“It continues to strengthen its financial strength and stability”
Commenting on the third quarter report CEO Paolo Ardoino, “Tether’s performance in the third quarter of 2024 demonstrates our commitment to transparency, liquidity and responsible risk management.
Reaching the 120 billion USDT threshold and reporting US Treasury bond holdings of $102.5 billion underscores the company’s unique financial strength. By increasing our reserve surplus to exceed 6 billion dollars and focusing on strategic investments, we aim to raise ₮ above the standards once again for stability in the financial field.” he said.
Crypto
Next Week’s Free Game at Epic Games Has Been Announced
Epic Games, which continues to make one or two games free every week, has announced two games that will become free starting next week.
Epic Games, which continues to make one or two games free every week, has announced two games that will become free starting next week.
Epic Games, which has managed to survive despite struggling with a tough rival like Steam that dominates PC gaming, occasionally offers remarkable games to users for free in order to attract more players to its platform. Epic Games, which has managed to attract a large number of gamers to its platform thanks to this strategy, is currently giving one or two different games to its users for free every week.
Epic, which recently made available this week’s free games, also announced the game it will give to users for free next week. The game, which will be free on the Epic Games Store starting from October 24, is Moving Out, one of the remarkable independent games of recent years. will be.
The promotional article on Epic for Moving Out, which is normally sold for 70 TL, is as follows:
Moving Out is an absurd physics-based moving simulator that brings new meaning to the concept of “couch co-op”! As a newly certified Staging and Moving Technician, you’ll handle moving duties throughout the bustling town of Packmore.
2020’s Moving Out was appreciated by both critics and gamers, making it one of the pleasant surprises of that year. As a matter of fact, this success paved the way for a sequel, which was released to gamers last year.
Crypto
Tesla’s Bitcoin Move Caused Concern
Tesla’s move of its $760 million Bitcoin stock for the first time in two years caused panic in the cryptocurrency markets.
Tesla’s move of its $760 million Bitcoin stock for the first time in two years caused panic in the cryptocurrency markets.
One of the little-known facts about Elon Musk’s electric car company, Tesla Motors, is that the company has a significant Bitcoin reserve. Tesla holds hundreds of millions of dollars worth of cryptocurrencies. However, judging by the latest news, the company is having difficulty finding some of this cryptocurrency.
Tesla has not made any transactions in its digital wallet for the last two years. So the company’s cryptocurrencies remained where they were. Until last week, that is. Last week, almost all of the company’s crypto money began to be transferred to other wallets. started. The transfer of $760 million worth of crypto money to digital wallets whose owners were unknown caused great panic within the company.
The general opinion in the crypto world is that Elon Musk made such a move to convert his cryptocurrencies into cash. But this does not alleviate the concerns, on the contrary, it makes crypto investors even more worried. Because Tesla selling all of its Bitcoins at once could create a shocking shock wave in the crypto markets. Because in such a case, not only the size of the amount sold, but also the fact that Elon Musk is the one selling it will affect the markets. The fact that an important figure like Elon Musk is now leaving Bitcoin may cause the trust in this cryptocurrency to decrease. This could lead to a mass selling trend. We will wait and see what Musk’s real intentions are. However, this activity in Tesla does not seem to bode well for crypto enthusiasts.
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