#outpacing

Corporate America is starting to ration AI, and it’s affecting marketing teams. Axios and The Wall Street Journal report that some enterprises have burned through their entire annual AI budget in just a few months. Others have watched AI spending double or triple with little warning. Continue reading AI Costs Are Outpacing Marketing Budgets, So How Do You Strategize?

Data from the National Association of Realtors shows that 35% of single women ages 18 to 26 are buying homes compared to just 18% of single Gen Z men. However, as a whole, the age group is struggling to keep up with others when it comes to owning a home. Jessica Lautz, the deputy chief economist at the National Association of Realtors, joins “The Daily Report” to discuss. Source link

QDVO: May Proceed Outpacing In Whole Return Going Ahead

Hong Kong approved its first Solana spot exchange-traded fund (ETF), marking the third crypto spot ETF approved by the city after Bitcoin and Ethereum. On Wednesday, the Hong Kong Securities and Futures Commission (SFC) granted approval for the China Asset Management (Hong Kong) Solana ETF, which will be listed on the Hong Kong Stock Exchange, according to a report by the Hong Kong Economic…

Q2 2023 Fee Revenue Hits $184M, Outpacing 2022

(adsbygoogle = window.adsbygoogle || []).push();

Pixabay

A recent report shows that Bitcoin miners have witnessed a notable achievement, surpassing its previous 2022 record.

The report revealed that the miner made over $100 million from transaction fees alone in the second quarter of 2023.

The amount accumulated is over five times the total fees earned in the previous five consecutive quarters.

This achievement mirrors the ever-growing demand for Bitcoin transactions and the rising value of the digital asset.

Bitcoin Miners Achieve Milestone: Q2 2023 Transaction Fees Surpass $100 Million Mark, Soaring Over 270% from Q1

According to a report published by Coin Metrics on July 5, Bitcoin miners generated a remarkable $184 million in transaction fees during the second quarter of 2023. 

This amount far surpasses the fees earned by miners throughout the entirety of 2022.

This significant achievement marks the first time since Q2 2021 that a quarter has exceeded the $100 million milestone. 

The payout of $184 million represents an astounding surge of over 270% compared to the first quarter of 2023. 

This figure exceeds the combined fees earned during the preceding five quarters, from Q1 2022 to Q1 2023, by more than fivefold.

The substantial increase in transaction fee revenue highlights the growing demand for Bitcoin and the ongoing network activity. 

Nevertheless, the transaction fees constituted a mere 7.7% of the overall $2.4 billion earned by miners in the previous quarter. 

The report attributes the significant increase in transaction fees to Bitcoin’s recent price surge and the implementation of the BRC-20 token standard and Ordinals.

Bitcoin Miners Reap Advantages from the Utilization of BRC-20 and Ordinals

In March 2023, the BRC-20 token was introduced, utilizing Ordinals inscriptions to facilitate the creation and transfer of fungible tokens on the Bitcoin network. 

This new token class takes inspiration from Ethereum’s ERC-20 token standard. Since their inception, the market capitalization of BRC-20 tokens has surged to over $240 million.

Furthermore, Bitcoin Ordinals was launched in January 2023, introducing the Ordinals protocol on the Bitcoin network. 

This protocol enables users to create assets similar to non-fungible tokens (NFTs) by inscribing data onto a single satoshi. 

A satoshi represents the smallest divisible unit of Bitcoin, equivalent to 1/100,000,000 of one BTC.

The combination of the BRC-20 token and the Ordinals protocol has introduced new possibilities and functionality to the Bitcoin ecosystem, expanding its capabilities beyond its traditional use as a store of value. 

These developments have boosted the market capitalization of BRC-20 tokens and provided avenues for creating unique assets on the Bitcoin network, parallel to the concept of NFTs.

As mentioned in the report, bitcoin miners experienced favorable macroeconomic conditions in the last quarter. 

The receding inflation pressures resulted in lower electricity rates for miners based in the United States, thereby benefiting them. 

However, the report also noted decreased payout amounts related to transaction fees due to the diminishing excitement surrounding BRC-20 tokens. 

Nevertheless, miners still receive significant compensation from transaction fees.

(adsbygoogle = window.adsbygoogle || []).push(); #Fee #Revenue #Hits #184M #Outpacing

Dogecoin soars 30% – outpacing other large caps cryptocurrencies

(adsbygoogle = window.adsbygoogle || []).push();

Ad

The cryptocurrency market cap saw net inflows of $3.8 billion and currently stands at $1.18 trillion — up 0.3% from $1.18 trillion.

During the last 24 hours, Bitcoin’s market cap fell 0.7% to $546.04. Ethereum’s market cap grew by 1.1% to $220.89 billion.

Over the reporting period, the top 10 crypto assets recorded a mixed performance, with Dogecoin posting near 30% gains. In contrast, XRP brings up the rear, falling 3.6% in value.

Source: CryptoSlate.com

The market caps of Tether (USDT) and USC Coin (USDC) increased to $79.9 billion and $32.7 billion, respectively. Meanwhile, the market cap of Binance USD fell to $7.4 billion.

Bitcoin

In the last 24 hours, Bitcoin decreased by 0.7% to trade at $28,232 as of 07:00 ET. Its market dominance fell to 46.1% from 46.5%.

Over the reporting period, Bitcoin fell to find support at $27,202. The resulting recovery saw a gradual uptrend, peaking at $28,352 after 06:00 (ET).

Source: TradingView.com

Ethereum

Over the last 24 hours, Ethereum grew 1.1% to trade at $1,832 as of 07:00 ET. Its market dominance increased to 18.7% from 18.5%.

Since yesterday, Ethereum recorded a local top of $1,840, followed by a sharp dip that bottomed at $1,769. The subsequent recovery peaked at $1,838.

Source: TradingView.com

Top 5 Gainers

ICON

ICX is the day’s biggest gainer growing 53.8% over the last 24 hours to $0.40549 as of press time. The project held a hackathon recently. Its market cap stood at $386.49 million.

Dogecoin

DOGE grew 30% to $0.10245 during the reporting period. Twitter changed its homepage logo to a doge, prompting rumors of crypto integration on the social media platform. Its market cap stood at $13.98 billion.

0x

ZRX gained 21.2% to trade at $0.33883 at the time of writing. The project was yesterday’s top loser. Nonetheless, the token is up 56.5% over the past week. Its market cap stood at $287.16 million.

IoTeX

IOTX is up 16.1% to $0.03125 as of press time. The project launched its Improvement Proposal program recently. Its market cap stood at $295.24 million.

FLEX

FLEX rose 7.1% to $2.59124 over the last 24 hours. The Seychelles court approved CoinFLEX’s restructuring proposal recently. The project is expected to rebrand to OPNX soon. Its market cap stood at $255.66 million.

Top 5 Losers

Kaspa

KAS is the day’s biggest loser, falling 12.9% to trade at $0.03396 at the time of writing. Despite today’s drawdown, the token is up 170.3% over the past month. Its market cap stood at $601.48 million.

Conflux Network

CFX is down 7.5% to $0.36675 as of press time. The project recently announced a strategic partnership with Kepler42B_ZK Planet to develop zero-knowledge-proof technology. Its market cap stood at $1.02 billion.

Hedera

HBAR declined 6.6% to $0.06787 over the reporting period. The HBAR Foundation announced former Acting Comptroller of the OCC, Brian Brooks, joined its board. Its market cap stood at $2.07 billion.

CORE

CORE dropped by 6.5% to trade at $1.52912. The project announced its CORE Faucet bridging solution. Its market cap stood at $118.61 million.

JOE

JOE decreased 5.7% to $0.58648. Its Auto Pools function launched, enabling automated liquidity management. Its market stood at $197.31 million.

Posted In: Bitcoin, Wrapped

(adsbygoogle = window.adsbygoogle || []).push(); #Dogecoin #soars #outpacing #large #caps #cryptocurrencies