The average transaction fees on the Bitcoin (BTC) blockchain fell below $1 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over Ethereum (ETH) blockchain skyrocketed several times during the nonfungible token (NFT) hype, inducing stress on general users. While the Bitcoin ecosystem has also endured its fair share of high transaction fees in the past, timely upgrades — including the Lightning Network and Taproot — guarantee faster and cheaper transactions …

At the moment, liquidity is hard to come by, but crypto traders and protocols still need inflow and revenue to remain functional. As the crypto winter drags on, savvy crypto investors have realized that one of the reliable sources of passive income that still exists can be found on protocols that generate revenue and share some of it with their respective communities. Platforms that earn real yield through useage fees are the obvious winner in the bear market, That mean perpetuals and options as they are profitable bear or bull. Thats why #GMX is hot, #snx fees up massively and …

Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng “CZ” Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur. Binance stands as the biggest crypto exchange, outdoing its nearest competition FTX by 10x in terms of trading volume. CZ, known for implementing features based on community feedback, reached out over Twitter to gauge investor sentiment …

Luxembourg-based cryptocurrency exchange Bitstamp has scrapped plans to implement an inactivity fee after widespread outcries from users online. The exchange had previously announced at the end of June that it would enforce a €10 ($1fee on inactive users on its platform with account balances valued at €200 ($204.08) or less from the beginning of August. The inactivity fee was due to be applied to users of Bitstamp Limited and Bitstamp Global Ltd from Aug. 1 and for customers of Bitstamp Europe S.A. from Aug. 6. Bitstamp users based in the United States were exempt from the proposed fee, according to …

The Ethereum ecosystem’s biggest roadblock to mainstream dominance is often attributed to the extremely high transaction fees — known as gas fees — it requires to complete a transaction. However, with Ethereum’s average gas fees coming down to 0.0015 Ether (ETH), the narrative is set to change. The average transaction fee on the Ethereum blockchain fell down to 0.0015 ETH or $1.57 — a number previously seen in December 2020. However, starting in January 2021, Ethereum’s gas fees surged, owing to the hype around nonfungible tokens (NFT), decentralized finance (DeFi) and a promising bull market. For nearly two years, between …

Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000. Changes in Bitcoin prices directly impact the miners’ income, who earn fixed block rewards and transaction fees in BTC for running their mining operations. In June 2022, the total mining revenue dipped below the $20 million range, with Blockchain.com data recording the lowest dip of $14.401 million on June …

This past week, the decentralized finance (DeFi) ecosystem tried gaining some momentum amid the bear market crash. Uniswap saw a trend reversal and overtook Ethereum regarding network fees paid. However, not all DeFi protocols were as lucky, as Bancor had to pause its “impermanent loss protection” in the wake of a hostile market. DappRadar’s report shows that the GameFi ecosystem continues to thrive despite the current downturn in the market. Solend invalidates Solana whale wallet takeover plan with second governance vote. The top 100 DeFi tokens showed signs of recovery after last week’s mayhem, and several of the tokens registered …

Coinbase’s professional trading platform, Coinbase Pro, will cease to exist as the cryptocurrency exchange unveiled plans to restructure its services to consolidate them into one platform. The United States-based crypto trading firm officially announced on Wednesday that it will start sunsetting Coinbase Pro to migrate all advanced trading services into one unified Coinbase account. Coinbase Pro’s services will migrate to Advanced Trade, Coinbase’s new trading section accessible via the exchange’s website. The section was initially launched in March 2022, providing traders with in-depth analysis and actual trading directly on Coinbase. According to the announcement, Advanced Trade will provide the same …

Crypto exchange Binance.US has removed trading fees for Bitcoin (BTC) spot market trades, following in the footsteps of Robinhood, which pioneered no-commission crypto trading in 2018. Brian Shroder, CEO of Binance.US, said the move makes the company the first United States crypto exchange to eliminate spot trading fees for Bitcoin for all users and without trading volume requirements. He added that they would also not be earning a spread on trades. “We see this as an opportunity to revolutionize the way fees are approached in our industry, increase accessibility to crypto, and better support our market and customers in a …

Decentralized exchange (DEX) Uniswap has overtaken its host blockchain Ethereum in terms of fees paid over a seven-day rolling average. The surge appears part of a recent spate of high demand for DeFi amid the current bear market. Decentralized finance (DeFi) platforms such as Aave and Synthetix have seen surges in fees paid over the past seven days, while their native tokens and others such as Compound (COMP) have also boomed in price. According to data from Crypto Fees, traders on Uniswap accounted for an average daily total of $4.87 million worth of fees between June 15 and June 21, …

Layer-2 scaling solution Synthetix recently collaborated with liquidity provider Curve Finance to create Curve pools for Synthetic Ether (sETH)/Ether (ETH), Synthetic Bitcoin (sBTC)/Bitcoin (BTC) and Synthetic U.S. dollar (sUSD)/3CRV, allowing investors to cheaply convert synths such as sETH to ETH. Given the investors’ willingness to hold tokens instead of synths, the protocol racked up over $1.02 million in trading fees — overshadowing Bitcoin’s (BTC) daily performance by five times. Synthetix, Ethereum-based decentralized finance (DeFi) protocol, created a buzz across the crypto ecosystem after witnessing a sudden increase in trading activities and an unprecedented comeback of its in-house token, SNX, during …

Being in crypto is all about taking an intelligent view towards money. We know that Bitcoin (BTC) is the future, both as a store of value and also as a means of payment, as layer 2 solutions such as the Lightning Network begin to flourish. It is, therefore, vital that every cryptocurrency user makes sure that they always obtain the most competitive price for every service. While millions of crypto users convert fiat to crypto using a debit or credit card, this is by no means a low-cost choice. Paying the overhead: Converting fiat to crypto According to The Motley …