Coindesk

Ethereum layer-2 protocols are processing transactions faster than ever, with Coinbase's BASE at the forefront of this progress.According to data from growthepie.xyz, the cumulative transaction throughput for layer 2s has skyrocketed to 29.64 million gas units per second (Mgas/s), the highest pace ever recorded. BASE leads the way, accounting for 67% of the total. Gas is the fee users pay to conduct a transaction.Layer-2 protocols are scaling solutions built on top of primary blockchains like Ethereum, and are designed to handle a higher volume of transactions at lower cost. The metric of millions of gas units per second reflects the number of transactions the network processes each second.This surge in throughput comes amid concerns that sustained demand for layer 2...

Volatility traders looking to capitalize on significant price swings may soon find opportunities. A key indicator suggests that bitcoin (BTC), currently above $100,000, resembles a coiled spring poised to release energy in either direction.The indicator is the rolling 60-day price range, representing the variation in maximum and minimum price ticks in percentage terms. A tighter range implies stable market conditions characterized by range play and demand-supply equilibrium.Analysis by Glassnode shows that bitcoin's 60-day range is now tighter than the current trading range. Historically, such patterns have presaged volatility explosions."All of these instances have occurred prior to a significant burst of volatility, with the majority being in early bull markets or prior to late-stage capitulations in bear cycles," Glassnode said in...

Bitwise has officially submitted a registration filing for a dogecoin exchange-traded fund (ETF) as memecoin demand grows within the market.A "Bitwise Dogecoin ETF" was submitted late Wednesday and appeared on the Department of State's Division of Corporations in the U.S. state of Delaware. Such filings may often be a spoof, but Bitwise confirmed the registration in a message to The Block.https://x.com/EricBalchunas/status/1882202309293433217That came on the back of investment managers Rex Shares and Osprey Funds filing paperwork for several crypto exchange-traded funds (ETFs), including one for dogecoin.An ETF approval by regulatory bodies like the SEC would provide dogecoin with institutional validation, potentially attracting more conservative investors to the memecoin. Increased demand could drive up DOGE prices if the product captures even a...

An earlier leak on the website of Chicago Mercantile Exchange (CME) showing regulated XRP (XRP) and Solana (SOL) futures could start trading on Feb. 10 pending regulatory approval was an “error,” a representative of the company told CoinDesk.“A beta page from our website was released in error earlier today,” the spokesperson said. “Many mock-ups are included in that test environment. No decisions have been made regarding XRP or SOL futures contracts."A screenshot of a beta page for XRP (XRP) and Solana (SOL) futures contracts was posted on X earlier on Wednesday, sparking rumors that the exchange might get ready to list those investment vehicles on Feb. 10.Both tokens jumped as much as 3% following the post, before paring some of...

U.S. Commodity Futures Trading Commission Chairman Caroline Pham, the Republican commissioner who just took over the agency as President Donald Trump returned to the White House, ushered out many of the agency's top officials under predecessor Rostin Behnam, the Democrat who'd been appointed by Joe Biden.The staff changes — with each departure replaced by interim officials appointed by Pham — will have implications on cryptocurrency oversight for the U.S. derivatives regulator that's poised to play a bigger role in the field.Notably, Harry Jung, who joined the CFTC in 2023 as a senior policy advisor to Pham, will lead the agency's engagement with the crypto industry. He's been tapped for an elevated role as the CFTC's new acting chief of staff.Pham...