According to an X post, a cryptocurrency mining pool, F2Pool, has returned the mistakenly transferred transaction fee of 19.8 BTC made by Paxos, a Financial infrastructure firm. It started on September 10, when a transaction fee of $510,000 was paid to a miner on block 807,057 for a transaction worth $2,000. This caused debate among…
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Chun’s reservations about whether to return the funds to Paxos stems from him being “annoyed” that “the person claiming it (the funds) kept saying EST instead of EDT/UTC.” A Bitcoin (BTC) miner who mistakenly received 20 BTC — worth over $500,000 — from crypto exchange Paxos for settling a 0.008 BTC ($200) transaction is now…
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Ethereum’s total daily transaction fees hit an eight-month low after it plunged to 1,719 ETH approximately $2.1 million on Aug 27. The recent decline in total gas fees can be attributed to low network activity and the rise of layer 2 scaling solutions. According to data from on-chain analytics firms CryptoQuant and IntoTheBlock, the second-largest…
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The hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow. The latest hype around Bitcoin (BTC) Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow. “These guys are…
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Proceeds come from base fees and surplus revenue generated from network transactions. The incentive follows a recent clash between Arbitrum’s team and its community. Ethereum layer-2 blockchain Arbitrum will distribute ETH (ETH) tokens worth nearly $6.2 million to its decentralized autonomous organization (DAO), the project announced May 9 on Twitter. ARB holders must claim the rewards.…
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Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from the all-time high levels. Bitcoin transaction fees saw a sharp surge in early May, reaching their highest point over the past two years, according to data from CryptoFees. On May 3, the total amount of fees paid on…
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Ethereum proponents celebrated the growth in daily revenue, while many others pointed toward network congestion and difficulty in usage. Ethereum network’s gas fee skyrocketed to a new multi-month high amid a growing memecoin frenzy. The high transaction fee has swelled Ethereum’s daily revenue multifold compared to Bitcoin (BTC). While Ethereum proponents celebrated the growth in…
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It has been a week since Ethereum’s Shapella hard fork, and statistics indicate that ethereum deposits on April 18 have exceeded withdrawals for the first time since the upgrade. At present, 929,999 ether worth $1.94 billion is pending withdrawal, and over the past three days, 112,568 ether has been added to liquid staking protocols. Just…
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High transaction fees stand in the way of crypto achieving its full potential and being embraced by the masses — but it is possible to make transfers for free. During the frenzied bull run, transaction fees were running rampant. Over on the Ethereum blockchain, they hit eye-watering highs of $196.638 back in May — rendering…
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