Crypto goes wild: Ethereum fees soar on unproven token hype.

Ethereum network chokes on "semi-fungible" token frenzy, gas fees at 8-month high

Excitement for a new type of token called "semi-fungible" is causing chaos on the Ethereum network, pushing gas fees to their highest point in eight months. Data shows an average fee of 70 gwei ($60 per transaction), with some spikes reaching a whopping 377 gwei. This surge surpasses even May 2023's peak.

Launched on February 5th by the Pandora project, ERC-404 tokens are sparking both interest and concern. Other projects like DeFrogs and Monkees are quickly joining the trend.

The Ethereum community is scrambling for solutions to tame these skyrocketing fees. Ideas include optimizing smart contracts and exploring layer-2 scaling options. The goal is to ensure that innovative tokens like ERC-404s can thrive without sacrificing the accessibility and sustainability of the network.

Web3 naming (.base) for the next billion+ users!

Unleash the complete potential of your Web3 username by acquiring a .base name through Base Name Service! Differentiate yourself and leave a lasting impact online.

Begin your Base Name journey now.

Bitcoin's Halving Looks Different This Time: Stronger Fundamentals and Easing Sell Pressure

Bitcoin's upcoming halving event, historically known for price surges, might be even more interesting this year due to improved technicals and increased use cases, argues Grayscale in a recent research note.

"While miners might face short-term revenue challenges, strong on-chain activity and positive market developments suggest this halving is fundamentally different," says researcher Michael Zhao. "Bitcoin seems to be evolving beyond 'digital gold' into something even more significant."

Previously, halvings introduced the risk of miners selling their newly minted coins, putting downward pressure on prices. Currently, this amounts to $14 billion annually if we consider a Bitcoin price of $43,000.

However, "to maintain current prices, only $14 billion in buying pressure is needed," explains Zhao. This requirement halves after the halving, as rewards drop to 3.125 Bitcoin per block, effectively reducing selling pressure by half.

Mickey Meets the Metaverse: Disney and Fortnite Join Forces in $1.5 Billion Deal

Hold onto your hats, Disney fans! The House of Mouse is stepping into the virtual world with a $1.5 billion investment in Epic Games, the creator of Fortnite. Together, they're building a new metaverse, a shared virtual space where imagination (and maybe a little magic) can run wild.

Think of it this way: imagine exploring a world where you can hang out with Buzz Lightyear, swing through the jungle with Tarzan, and battle Storm Troopers alongside your friends. That's the potential of this exciting partnership.

Disney brings its beloved characters and stories (think Disney, Pixar, Marvel, Star Wars, and Avatar) to the table, while Epic Games provides the platform and know-how from its hugely successful Fortnite game. Together, they aim to create a "persistent universe" where fans can play, watch, shop, and interact with their favorite characters in entirely new ways.

This multiyear project marks Disney's biggest plunge into the gaming world yet, and it has the potential to change the way we experience entertainment. So get ready to explore uncharted territories, because the metaverse is about to get a whole lot more magical!

MEME OF THE DAY