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Bitcoin Transactional Fees Double After BitMEX Exodus

Bitcoin transactional fees have almost doubled Ethereum’s after the CFTC filed charges against BitMEX and users started withdrawing the funds from the exchange as we are reading more in our latest bitcoin news. Bitcoin transactional fees are on the rise after the BitMEX exodus while Ethereum’s have fallen. The ETH fees are usually higher than the ones of BTC but now it seems that Bitcoin’s fees doubled Ethereum’s. While Bitcoin’s average transaction fees doubled in the past week, the data from BitInfoCharts that Ethereum’s fees are declining. The reason for that could be the recent user withdrawal of funds from…

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ETH Developers Worry That Tokenized Gas Will Keep The Fees High

ETH developers worry that the tokenized gas could only be a price floor for bigger transaction fees and will continue on keeping them high as we are about to find out in our latest Ethereum news today. The ethereum smart contract feature that offers rebates for the fees has the developers wondering if they will have to get rid of the old code in light of the exponential rise in transaction costs. The gas tokens are loopholes that are a way to send transactions on the cheap by “tokenizing gas” for the fees paid for running the computations on-chain. The…

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Declining ETH Gas Cost Still Higher Than BTC Fees: Supporters Insists ETH 2.0 to End High Fee Woe

Ethereum network gas fees that averaged $15.13 on September 2 have been declining in the past four days ending the day at $3.43, according to Token View charts. At that cost, ethereum fees are still ahead of those on the Bitcoin network that averaged $2.75 on September 6. The highest average daily fee on the Bitcoin network of $5.31 was recorded on September 4. In the meantime, the Token View charts also seem to support the notion that the start of the Defi boom coincided with the spike in Ethereum gas fees. For example, between early June and July 19,…

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Tim Draper Heaps Praise on Bitcoin Cash

Billionaire and venture capitalist Tim Draper has praised bitcoin cash after recently purchasing the coin. Lauding the ease of use as well as buying it, Draper encourages his followers to do likewise. Draper’s endorsement comes as the Bitcoin Cash (BCH) community braces for a fork instigated by Bitcoin ABC’s infrastructure funding proposal (IFP). Yet despite the ongoing split reports, Tim Draper, the crypto supporting billionaire, still praises BCH and gives thanks to Roger Ver “for this innovation.” Although Draper’s tweet does not provide specific reasons for the praise, it would appear his comments have been made within the context of…

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Tether Is To Blame For Ethereum’s High Fees: Analyst Opinion

Ethereum fees hit new peak levels recently and according to analysts, Tether is to blame. In our latest tether news today we read more about the Glassnode analysis. Some analysts from Glassnode created a chart showing how the Ethereum fees have hit a new all-time high with major names such as Tether and Uniswap leading the spending. The analysis shows that the ETH gas spending reached a new all-time high and USDT transfers make up to 14% of all gas spending. According to the new analysis from the blockchain intelligence company Glassnode, the source of the skyrocketing fees resulting in…

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