Meme Coin Economy Swells by $5.8 Billion in Less Than a Month, Suggesting Demand for Meme Tokens Still High

The meme coin economy has grown significantly over the past 27 days, increasing 34.52% against the U.S. dollar. The largest meme coin by market capitalization, dogecoin, has risen 29.5% in the past month, while the second-largest meme coin, shiba inu, has…

Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain

During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain….

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack

During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse tokens like Decentraland’s MANA and The Sandbox’s SAND…

Axie Infinity’s Monthly Player Count Drops to Low Not Seen Since November 2020

After recording $4.26 billion in total non-fungible token (NFT) sales, the play-to-earn game Axie Infinity’s monthly player count has dropped to levels not seen since November 2020, a period of 26 months. Despite the low player count, the project’s native token,…

Combined Transactions on Arbitrum and Optimism L2 Chains Outpace Ethereum’s Daily Transfer Count 

Since The Merge, Ethereum’s onchain fees have been considerably lower. However, combined transaction volume on layer two (L2) chains Arbitrum and Optimism has outpaced Ethereum’s onchain transaction output. On Saturday, Jan. 14, 2023, Ethereum processed 1.10 million onchain transactions, while combined…

Polygon Announces Upcoming Hard Fork to Address Gas Spikes and Chain Reorganizations

The Ethereum scaling blockchain, Polygon, has revealed plans to initiate a hard fork on Jan. 17, 2023. According to the team, the network upgrade will “reduce the severity of gas spikes” and “address chain reorganizations (reorgs) in an effort to reduce…

Nexo Bitcoin Withdrawals Surge Following Raid of Bulgarian Offices

After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on…

Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes

The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down…

US With Highest Number of Closed Bitcoin ATMs in Negative Growth Year

The number of ATMs supporting digital currencies has fallen around the world over the course of a turbulent year for the whole industry. According to a new report, the United States has lost more machines offering crypto teller services than any…

While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher

Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bitcoin’s hashrate has been around 254.3 exahash per second…