Crypto News
ETH Transaction Volume Climbs on Price Rally, Cheaper DeFi Costs
Ethereum’s transaction volume has been overall on an upward trajectory, closing in its all time high of 1.9 million transactions in a single day in January 2024.The latest surge is drawing attention from both retail traders and institutional observers, as it reflects a confluence of technical improvements, favorable market sentiment, and a renewed appetite for on-chain activity.According to data from Etherscan, daily transaction counts have been consistently trending higher over the past several weeks. Other data shows seven-day averages of daily transactions have already surpassed their previous records.Analysts suggest that this momentum is being fueled by a combination of factors: a recent increase in network capacity, rising ether prices, and a reduction in transaction costs, particularly for decentralized finance (DeFi)...
FG Nexus Buys $200M in Ether in Bid for 10% Network Stake
FG Nexus, the digital assets arm of Fundamental Global Inc., has acquired 47,331 ETH worth roughly $200 million at $4,228.40 per token as part of an aggressive strategy to become one of the world’s largest corporate holders of ether. The Charlotte, North Carolina-based company formally kicked off its accumulation plan on July 30 with a symbolic 6,400 ETH purchase marking the 10-year anniversary of Ethereum’s genesis block, and has since rapidly expanded its holdings through a series of acquisitions.Alongside its buy, the company announced a stock ticker change to FGNX from FGF.X account Lookonchain noted that one entity had been aggressively acquiring ETH over the past few days, with a final $194 million purchase made on Monday.The company has deployed...
Stablecoin Issuer Paxos Follows Circle and Ripple in Applying for US Banking License
Paxos has joined the list of firms seeking a national trust charter, with the stablecoin issuer following Circle and Ripple on that front.Source link
Sharplink’s ETH Treasury to Surpass $3B After $400M Deal
Sharplink Gaming, Inc. (Nasdaq: SBET) expects its ethereum ( ETH) holdings to exceed $3 billion in value following a $400 million registered direct offering with institutional investors. Sharplink Inks $400M Institutional Deal The Minneapolis-based company disclosed that it entered purchase agreements with five global institutional investors, including some of the world’s largest. Proceeds from theSource link
Filecoin Narrows Loss After 7% Slump
Filecoin (FIL) exhibited high volatility throughout the 24-hour trading session, registering a comprehensive 7% range, according to CoinDesk Research's technical analysis model.The model showed that FIL hit a high of of $2.68 and a subsequent low of $2.49, during the period.FIL endured a precipitous decline commencing approximately 07:00 on Aug. 11, down markedly to $2.49 by midday accompanied by robust volume of 8.88 million during the 12:00 trading hour, consequently establishing substantial volume-supported foundations at approximately $2.49, according to the model.The token has recouped some of its earlier losses to trade 2% lower over 24 hours, at around $2.56.The bounce in FIL came as the wider crypto market rose, with the broader market gauge, the Coindesk 20, recently up 1.1%.Technical...