DeFI News by Thebittimes.Com

A crypto investor lamented Ethereum’s high transaction cost threatens dApps. Ethereum has an average fee of $4.86, while layer two scaling Optimism has $0.21. The investor argued that dApps cannot operate with ETH’s high costs. In a recent tweet, prominent crypto trader and investor “Crypto Rand” raised concerns about Ethereum’s scalability, emphasizing the critical challenges it poses for decentralized applications (dApps). The post lamented the staggering average trans action fee on the Ethereum network, standing at almost $5. Crypto Rand’s post called attention to the high trans action fees’ impediments to the seamless functioning of dApps on the Ethereum blockchain. Specifically, the investor argued it becomes nearly impossible for decentralized applications to operate efficiently with trans action costs reaching such levels. This potentially hinders their mainstream adoption and overall utility. To illustrate the sever...

Shibarium’s transaction surge boosts SHIB price to a seven-day high, hinting at further gains. Cryptocurrency market rallies as Bitcoin hits 19-month high and Ethereum joins the climb.  Shibarium shines as a Layer-2 powerhouse, handling record transactions with ease. Shibarium has recently witnessed an increase in its daily trans action count. As of December 4, the total daily trans action s recorded on Shibarium soared to an impressive 7.84 million. This significant activity has pushed the network’s total trans action s to above 27,000,000. Where is the burn button? I want to press it to burn the $36,000 shibarium accumulated today! Someone ask Lucie or a discord moderator where it's at. #SHIBA #Shibarium #burnSHIB pic.twitter.com/yR0cGHseZl — ClayBro (@ClayBro883) December 4, 2023 Consequently, this surge in trans action volume has had a notable impact on the broader market, particularly on the value of Shiba Inu (SHIB). As...

The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency trans action s. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto trans action s of over 1,000 euros ($1,055). European Union to Limit Cash Usage, Ostensibly to Fight Money Laundering The countries of the European Union have announced a set of new directives to make more difficult the usage of cash and other alternative currencies like crypto for criminal purposes. On Nov. 6, the bloc approved a new limit for cash payments, that will permit up to €10,000 ($10,557) in all of the countries that are part of the union. However, countries will be allowed to reduce the limit even more. Currently, Spain has one of the lowest limits in this regard, allowing citizens to only pay up to €1,000 ($1,055) with cash. However, the European Central Bank (ECB) expressed its disagreement with th...

The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency trans action s. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto trans action s of over 1,000 euros ($1,055). European Union to Limit Cash Usage, Ostensibly to Fight Money Laundering The countries of the European Union have announced a set of new directives to make more difficult the usage of cash and other alternative currencies like crypto for criminal purposes. On Nov. 6, the bloc approved a new limit for cash payments, that will permit up to €10,000 ($10,557) in all of the countries that are part of the union. However, countries will be allowed to reduce the limit even more. Currently, Spain has one of the lowest limits in this regard, allowing citizens to only pay up to €1,000 ($1,055) with cash. However, the European Central Bank (ECB) expressed its disagreement with th...