New proposal aims to raise Binance Coin value by burning BSC fees

The new BEP might decrease the total amount of BNB that validators and delegators obtain from staking. Amid the ongoing rally of Binance’s native token, Binance Coin (BNB), the developers of Binance Smart Chain (BSC) have proposed more measures to maintain the token’s deflationary model and improve its intrinsic value.According to a new Binance Evolution Protocol, BEP-95, BSC developers are considering introducing a real-time burning mechanism for a portion of gas fees to reduce BNB supply and drive BNB value higher by increasing the demand.

Rarible introduces zero-cost NFT minting feature

The platform is seeking to lower the Ethereum gas fees that restrict many investors in the emerging nonfungible token market.

Ethereum's EIP-1559 Helped Coinbase Save ETH 27 on Daily Fees

target="_blank" rel="noopener noreferrer" href="https://cryptonews.com/ext/coinbase/">Coinbase, the upgrade has also brought more direct benefits for users, with the exchange so far saving about ETH 27 – or USD 92,000 – on gas fees every day.After the implementation of the new Ethereum Im...

Arab Bank has chosen Tezos to facilitate institutional custody service

The Switzerland firm is an independent sister company of Arab Bank plc. Arab Bank Switzerland announced Tuesday that it will integrate staking, trading, and custody services onto the Tezos blockchain’s native token (XTZ) in a bid to provide a digital asset environment for institutions, corporations, and high net-worth individuals. The 50-year old establishment partnered with Tezos in the hope of benefiting from the ecosystems inherent focus on energy conservation, low-gas fees and fast upgrades. Managing Director of Arab Bank Switzerland, Rani Jabban commented on the institution’s ambitions following the announcement:“Digital Assets are a cornerstone of our strategy, requiring strong agility while complying with the highest security standards.

Ethereum Miner Returns ‘Erroneously High’ $22 Million Gas Fee to Bitfinex’s Wallet

After spending more than $20 million in gas fees for a $100,000 transaction, decentralized crypto exchange DeversiFi announced that the miner has returned the sum. 

Ethereum killers or just pretenders? But Ether remains king for now

The issue of high gas fees rears its head up for the Ethereum community yet again as “Ethereum killer” networks continue to gain more attention.

Altcoin Roundup: High Ethereum fees kick-start a liquidity migration to layer-1 platforms

Ethereum competitors and layer-one projects are capitalizing on the network’s untenable gas fees by launching mining and developer incentives that are also boosting token prices. In the ever-evolving world of cryptocurrencies and blockchain technology, the race to establish a highly scalable, user-friendly network capable of being adopted on a global scale is a never-ending marathon where new competitors regularly join in on the race. Bitcoin is undoubtedly the market leader when it comes to network security, active users and market capitalization value, while Ethereum has thus far established itself as the top smart contracts platform, but the continued difficulty in getting these networks to scale has opened the door for next-generation blockchain protocols to gain a foothold in the market.The tenuous nature of Ethereum’s reign has begun to come under increased pressure in recent months as several up-and-coming layer-one- and layer-two-based protocols have launched incentive programs to attract liquidity and users to their ecosystems.

DeFi Protocol Balancer Joins Arbitrum to Scale Liquidity and Reduce Gas Fees

Balancer Protocol announced today that it has launched its network on Arbitrum to reduce high transaction fees and scale DeFi liquidity.

Ethereum Transfer Demand Increases as Average Gas Fees Hit a 3-Month High

The Ethereum network has been experiencing high demand, as evidenced by an uptick in transfers and average gas fees.

Total Value Locked in Ethereum 2.0 Reaches Record-High as Gas Fees Decreased

More investment continues trickling in Ethereum 2.0, which has broken the record, as disclosed by on-chain metrics provider Glassnode.

Ethereum supply flips briefly into deflation as gas fees spike

A spike in gas fees and ETH burn rates has produced almost 800 deflationary blocks so far.

EIP-1559: What Happens Next for Ethereum

EIP-1559 is a big upgrade to Ethereum, promising to rein in its volatile gas fees.

How does this impact Ethereum's price in the next rally?

Why Ethereum's low gas fees has a two-fold scenario going forward No other blockchain network facilitated more transactions than Ethereum during the DeFi and Yield Farming craze.

Balancer earmarks $10M for near-zero fees on Ethereum-compatible trades

The Balancer and Polygon partnership aims to lower gas fees for traders on the Ethereum blockchain. The adoption rate of a cryptocurrency is heavily dependent on its use cases in the real world.

Balancer Launches on Polygon to Reduce Gas Fees

Striving to reduce gas fees for its users, Balancer Protocol has announced the launch of its network on top of the Layer 2 solution - Polygon.

Pillar releases V2 of the first community-run multichain wallet cutting gas fees by 99%

The second iteration of Pillar’s flagship crypto wallet is launching in a period of stellar growth for the wider cryptocurrency industry as crypto assets across the board see their valuations soar.

Pillar V2, First Community-Run Multichain Wallet Cuts Gas Fees by 99%

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 28th June 2021, London, United Kingdom - The second iteration of Pillar’s flagship crypto wallet is launching in a period of stellar growth for the wider cryptocurrency industry as crypto assets across the board see their valuations soar.

Ethereum Gas Fees are the Lowest They’ve Been in 6 Months

Bitcoin fees also fell overnight as demand for the cryptocurrencies continues to wane.

What Is EIP-1559 and Why Are Markets So Excited About It?

Ethereum developers have put forward a proposal to help solve the network's high gas fees.

Curve (CRV) sees 150% rebound as DeFi bottoms and ETH gas fees drop

Falling Ethereum gas fees, the launch of Convex Finance and the DeFi sector reaching a potential bottom back CRV’s impressive 150% rally since May 23.

Amid Soaring Ethereum Fees, NFT Game Sorare Finds a Solution

The crypto fantasy soccer game will implement StarkWare’s scaling tech to cut out friction caused by Ethereum’s congestion and ever-fluctuating gas fees.

Black Eyed Peas’ Apl.de.Ap: NFTs Are Opportunity for Filipino Artists

The musician’s new NFT collection benefits charitable efforts, including paying for gas fees for Southeast Asian artists.

Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on Uniswap

In its bid to help users avoid high gas fees on Uniswap, a Kenya-based fintech firm, UTU, recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap.

Ethereum Gas Fees Surge to a Monthly High, Supply on Exchanges Continues to Decline

Ethereum's total fees has hit a monthly high of 746.026 ETH.

Ethereum Gas Fees Surge to All-Time High on Meme Coin Pumps

The cost of using the Ethereum network has skyrocketed to an all-time high and industry experts are blaming the latest meme coin craze for it.

The fees sting but Uniswap v3 sees more volume on launch day than v2's first month

Several users have aired complaints about the new version, especially its higher gas fees.

Absurdly High Rewards for LPs from First DEX to Refund ETH Gas Fees

The text below is an advertorial article that was not written by Cryptonews.com journalists. EmiSwap AMM, a new strong player on the DEX scene, intends to pull liquidity from major protocols by providing 100% Ethereum gas refunds and allocating NFTs, some of the most rewarding market conditions for liquidity providers. The exchange went live on March 31 and is about to cross 250,000 USD TVL (or

DeFi adoption on the Binance Smart Chain reaches new highs

Decentralized finance protocols on the Binance Smart Chain saw their token prices and total value locked rise toward new highs after a series of protocol upgrades and cross-chain integrations. Decentralized finance (DeFi) has taken a well-deserved break from the spotlight over the past couple of months after being one of the hottest sectors at the start of 2021, but recent growth on several top platforms may hint at another DeFi run in the near future.  While projects that operate on the Ethereum (ETH) network continue to deal with wild fluctuations in gas fees and transaction times, several that operate on the Binance Smart Chain (BSC) have seen an uptick in protocol activity and token value over the past week. XVS/USDT vs.

We all know the issues with DeFi — but what are the answers?

High costs and transactions prioritized by gas fees often make using DeFi protocols challenging to say the least.

What do these developments say about MATIC's price?

With the transition to Ethereum 2.0 likely to take more time, high gas fees and network congestion are still among the prevailing issues.

QuickSwap (QUICK) gains 420% as Polygon’s (MATIC) L2 network attracts new liquidity

Low fees and high yield opportunities briefly pushed QuickSwap price above the $1,000 mark as the Polygon-based layer-2 solution sees adoption from new blockchain projects. As the Ethereum (ETH) network progresses along the slow and steady path toward Eth2 and the full transition to proof of stake, layer-2 solutions have arisen as the best solution to the current challenges associated with high gas fees and network congestion.  One L2 solution that has emerged as a top choice for DeFi projects and traders is Polygon (MATIC), which over the past week, has seen its price climb toward new highs due to a surge in activity at its QuickSwap decentralized exchange. MATIC/USDT 4-hour chart.

Bitcoin dominance drop and resistance at $55K stoke altseason hopes

Ethereum's new all-time high, a drop in Bitcoin’s dominance rate and overhead resistance at $55,000 have analysts predicting that an altcoin season is at hand. The overall cryptocurrency market saw a second day of gains on April 27 after the weekend sell-off proved to be a good buying opportunity for retail and institutional investors. Lower gas fees following the Ethereum network's Berlin upgrade along with an increase in institutional buying and decentralized finance activity lifted the price of Ether to a new all-time high at $2,680. Data from Cointelegraph Markets and TradingView shows that Bitcoin (BTC) climbed above $54,000 in the early trading hours on Tuesday and bulls are now aiming to break through the $55,000 resistance level for a possible rally to $58,000.

Ethereum price all-time high follows reduced gas costs and DeFi revival

Analysts expect Ethereum price to rally to new all-time highs after the Berlin upgrade results in a drip in gas fees and a surge in DeFi activity.

Ethereum's Average Gas Fees Hit a 3-Month Low

The average gas fees on Ethereum have hit a 3-month low, below $10.

The First DEX To Compensate Gas Fees Starts Offering Sky-High Rewards for Liquidity Providers

EmiSwap decentralized AMM exchange is a new powerful player on the DEX market that plans to draw liquidity from major protocols by offering 100% Ethereum gas compensation, one of the best rewarding terms for liquidity providers, and distributing NFT items among them.

4 Key Factors Why Ethereum Gas Fees Could Get Cheaper

Ethereum has the biggest gains on the daily chart for the main cryptocurrencies by market cap.

Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

Sky high gas prices may make synths more costly than the real thing.

BlockDown: DeFi institutional adoption is booming but gas fees hinder growth

The BlockDown panel discussed the current issues but also the potential improvements for DeFi. Panelists at a DeFi-focused talk held at the BlockDown conference on Thursday expressed their optimism at the past and future growth of decentralized finance, but highlighted the hurdles to adoption due to congestion on Ethereum. The panel, titled “DeFi’s newest waves,” featured Anton Bukov, co-founder of 1inch Network, Ajit Tripathi, head of institutional business at Aave, Hyung Lee, CEO of B.Harvest, and Eric Chen, co-founder of Injective Protocol.

Ethereum’s All-Time High May Be Influenced by a Drop in ETH Gas Fees

On-chain metrics provider Santiment attributes the current ETH uptrend to a drop in Ethereum’s average fees.

How Ethereum’s gas fees could be on a lasting downtrend

Anonymous developer of protocol Mist, Stephane, has sparked a debate over the possibility of a reduction in Ethereum gas fees.

Immutable X Launches Gas-Free Layer-2 Solution Paving the Way to Mainstream NFT Adoption

April 8, 2021 Zero gas fees, self custody and security for NFT developers, creators and traders Immutable X alpha launched on mainnet today, the first layer-two solution for NFTs on Ethereum, created by Immutable – the team behind one of Ethereum’s highest-grossing trading card games, Gods Unchained.

DeFi platforms Zapper and Aave announce Polygon sidechain integrations

Two DeFi heavyweights will be integrating the one-time Ethereum competitor As cripplingly high gas fees put scalability in the spotlight and multiple platforms rush to become the preferred home of Ethereum’s decentralized finance (DeFi) ecosystem, layer-two sidechain Polygon may be emerging as a frontrunner after scoring two big wins today.  Both lending protocol Aave and portfolio management and batched transaction platform Zapper have announced that they will be offering implementations on Polygon.

Nifty News: NYT says NFTs in pandemic-fueled bubble, Polkamon eggs produce $1M gas ...

NYT likens the NFT bubble to the plague induced “tulip mania” of the 1600s, Polkamon NFTs generate more than $1 million in gas fees, and a man fails to sell 50% of a house as an NFT Having just flogged an NFT column for half a million dollars, the New York Times is now wondering if perhaps the whole scene is in a bit of a bubble? In a March 30 article, Art’s NFT Question: Next Frontier in Trading, or a New Form of Tulip? author Scott Reyburn questioned the sustainability of the current NFT bubble in prices and drew comparisons with the Dutch “tulip mania” of the 1630s.

WINk (WIN) soars as retail DeFi investors flee high Etheruem gas costs

WINk’s low-cost yield farming offerings are attracting retail DeFi investors who have been priced out of Uniswap due to high Ethereum gas costs. Decentralized finance has exploded in popularity over the past year and many analysts have pointed to the 2020 'summer of DeFi' as the primary catalyst for the rallies seen in Ether (ETH)  and Bitcoin (BTC).  In the beginning, investors were able to easily secure 4-digit annual percentage yield (APY) on an almost endless number of attractively priced assets on Uniswap but the increased activity on the Etheruem network eventually led to unsustainable spikes in gas fees and serious network congestion. These skyrocketing gas fees have priced out the average retail investor from participating in even the simplest protocol interactions like token approval or staking.

Ethereum’s Sideways Consolidation to Continue as Indicator Shows ETH is Currently Undervalued

Market analyst Michael van de Poppe has noted that ETH’s sideways consolidation will continue until a "bottoming construction"comes up.

How Biconomy is Revolutionizing the Web3 Space

The high cost of gas fees has become a financial nightmare for regular users in the web3 space.

EIP 1559 May Not Reduce High Gas Fees on Ethereum, but ETH 2.0 Will – Here’s Why

EIP-1559, an Ethereum Improvement Protocol set to launch in July, has been touted as a game-changer that will address the issue of rising gas fees on the network.

VCs bet big on layer-two as StarkWare raises a staggering $75 million

Scalability is a hot investment as VCs and retail pour into rollup and sidechain solutions As Ethereum gas fees soar and the demand for scalability reaches fever pitch, layer-two scaling solution has announced today a $75 million Series B funding round led by Paradigm, Three Arrows, Alameda Research, Pantera Capital, and Sequoia, among others.  The team announced the raise in a Tweet: Announcing our $75M Series B, led by @paradigm, with new investors (Three Arrows & @AlamedaResearch), and old ones too (@PanteraCapital, @sequoia, @foundersfund, @DCVC, @Wing_VC).— StarkWare (@StarkWareLtd) March 24, 2021 StarkWare, which previously raised $30 million in 2018, offers zero-knowledge rollup technology allowing for offchain computation, beefed up transactional throughput, and claims to offer mainnet-coparable security guarantees. CEO

Crypto Addresses Holding At Least 100 Ethereum Hit 19-Month Low as 8.2% of Circulating ETH Locked in DeFi

New data by on-chain data provider Glassnode reveals that the number of crypto addresses holding more than 100 ETH has hit a 19-month low of 45,518.

Ethereum network in a fee spin: Can the Berlin upgrade save the day?

The upcoming Berlin update contains EIPs aimed at reducing transaction costs, but it may not provide a long-term solution. Though Ether’s (ETH) value has continued to showcase increasing signs of stability around the $1,800 range over the past fortnight or so, users of the premier altcoin’s network have been faced with rising gas fees as well as increasing network congestion issues.

Nifty News: Tony Hawk’s ‘final’ ollie, man auctions farts, Star Wars and Marvel NFTs

Tony Hawk auctions tokenized ollie, NY man sells NFT farts (with low 'gas fees'), Star Wars and Marvel NFTs to be burned by the artist and Ripple wants to cash in on the NFT craze.

Total Value Locked in Ethereum 2.0 Deposit Contract Reaches a New All-Time High of $6.5 Billion

The total value locked in Ethereum 2.0 has hit a new all-time high, showing the trust in the network's future amid high gas fees.

Crypto Market Analysis: 8th March 2021

David Derhy, analyst, eToro: Ethereum prices rebound with proposals set to change gas fees Ethereum prices rocketed back above $1,700 over the weekend, hitting a multi-week high after a major upgrade to the network was announced.

What Ethereum killer? On-chain data shows competitor networks are still behind

Critics say Ethereum’s soaring gas fees will cause the project to fall victim to its competitor blockchains but on-chain data suggests otherwise. Ether (ETH) remains the second-largest cryptocurrency and it absolutely dominates the smart contract industry according to an array of network usage metrics.

SushiSwap Deploys Contracts to Five New Networks as Ethereum Gas Fees Surge

SushiSwap has deployed its contracts to five new networks.

Ethereum Gas Fees Hit a Monthly Low - Could this Trigger an ETH Uptrend?

New data by on-chain data provider Glassnode notes that the total Ethereum gas fees paid have hit a monthly low of $666,735.56.

Ethereum gas fees drop as daily DEX and DeFi volumes decline

Ethereum fees have pulled back from their recent highs alongside a decline in DeFi transaction volumes but the rise of NFTs could push transaction costs back to new highs. The rising popularity of decentralized finance (DeFi) has brought fresh attention and optimism to the cryptocurrency sector with the total value locked on all protocols increasing from $1 billion to $59 billion in less than a year and the top 5 platforms accounting for $24.33 billion of the total value.

Enjin New Solutions 'Bring Scaling to Ethereum, Remove Fees, Support NFTs'

Source: A screenshot, Instagram/enjin Ecosystem of blockchain software products Enjin (ENJ) has announced today a set of scaling solutions which they claim "remove gas fees from any blockchain" - the first of which is planned for launch early next month. According to the team, this set comprises two scaling solutions meant to remove gas fees, while also supporting fungible and

Matic, xDAI (STAKE) and Loopring (LRC) rally as Ethereum gas fees rise

Soaring Etheruem gas costs are driving investors and protocols to take a closer look at layer-2 solutions like Matic, Loopring and xDai. The start of a new month has brought renewed fervor from the cryptocurrency market as Bitcoin (BTC) price steadily climbed from a low of $43,537 on Feb.

Ethereum’s Daily Transfers Have Increased from $373 Million to Over $9 Billion in Just a Year

Ethereum has been transacting enormous daily volumes to the tune of more than $9 billion.

Layer-2 race heats up as Loopring (LRC) price gains 430% in 2021

Loopring’s increasing DEX volume and token price show the project is emerging as one of the leading layer-two solutions working to address the high gas fees on the Ethereum network. Cross-chain bridges and layer-two solutions have become an important topic of conversation in recent weeks as protocols compete to offer the best solution to skyrocketing transaction costs on the Ethereum network.  While a lot of the focus in decentralized finance (DeFi) has been on the creation of a sprawling multichain ecosystem following the recent emergence of Binance Smart Chain and Avalanche, those who wish to stay on Ethereum have turned to layer-two solutions like Loopring as their preferred method of escape. A recent report from Delphi Digital has identified Loopring’s decentralized exchange (DEX) as one of the top layer-two contenders, as it has already settled $590 million in volume in 2021.

Crypto Wallets Holding at least 1 Ethereum Hit a Monthly High Despite Price Correction

New data by on-chain data provider Glassnode reveals that despite the current price correction, Ethereum addresses holding more than 1 ETH have hit a monthly high of 1,175,408.

Solana-powered AMM Raydium proposes SushiSwap integration to reduce fees

SushiSwap is exploring integrating with high-speed AMM, Raydium, on Solana to alleviate high gas fees.

Crypto influencer warns Ethereum fees will drive users away

Crypto YouTuber Lark Davis is urging Ethereum’s to launch ETH 2.0 quickly, warning its devs must act soon to prevent rival networks from taking over amid high gas fees.

ETH Price Plunges as Ethereum Gas Fees Make DeFi Unusable

Ethereum’s surging gas fees continue to raise concern—making DeFi all but unusable for the average trader and the ETH price falling drastically to $1,580.63 last night.