The current state of the cryptocurrency market has seen commission fees on the Ethereum network plummet in recent weeks, down to year-old lows. This and more news is in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
Ethereum fee falls to 12-month low
📍‌Ethereum commission fees have returned to year-old lows. According to data from the Bit InfoCharts platform, the cost of transacting on Ethereum has fallen considerably this month, along with the cryptocurrency market.
According to the platform, commission rates on this blockchain network are currently around $2,80. This level was last seen in July 2021, when commission rates for transacting on Ethereum ranged between $2,30 and $3,03, according to the platform's data.
Source: Bit InfoCharts.
According to The Block, Ethereum miners' revenue is 45% lower than the previous month.
Blockchain market in the pharmaceutical sector
📍‌By 2028, Market Reports World estimates that the blockchain market in the pharmaceutical industry will grow by more than 70%. The global market reporting company believes that blockchain technology advances will further boost the development of the pharmaceutical industry, through a series of applications and implementations that will help create new products, ensure traceability and transparency, and offer more advanced and innovative services.
The company estimates that the blockchain technology market will grow to approximately 73% within the pharmaceutical sector. This growth will be driven mainly by companies that are attracted to innovation and by users and consumers who increasingly demand more efficient processes.
Market Reports World also he pointed that carbon neutrality sought by cryptocurrency companies is a key element to boost the growth and development of this industry.
Polium One, a console for chain games
📍‌Web3 infrastructure company to launch multi-blockchain gaming console Polium announced that it will launch the first video game console dedicated to blockchain games, based on the Immutable X, Solana, BNB Chain, Polygon and Wax networks.
The console, called Polium One, will allow users to access on-chain games and metaverses, buy and sell NFTs, manage cryptocurrencies, and much more.
Polium One is expected to be available between 2024 and 2025, the company reported. However, to date this project has been receiving strong criticism criticism; mainly due to its similarity to other products in the gaming industry.
Duolingo comes to The Sandbox
📍‌Duolingo, a language learning platform, comes to the Metaverse. The learning platform, which offers educational programs in English and other languages, has launched on the Ethereum-based metaverse of The Sandbox and the non-blockchain metaverse of Roblox.
Through these virtual world implementations, Duolingo seeks to get closer to its users and enhance all of its content and learning programs.
Singapore and its strict regulation of the crypto space
📍‌Singapore is considering new regulations to regulate the crypto industry more strictly. The Monetary Authority of Singapore (MAS) is considering limiting retail participation in the cryptocurrency market, MAS Senior Minister Tharman Shanmugaratnam said.
En statements During a parliamentary session on Monday, Shanmugaratnam said the cryptocurrency industry needs more safeguards to protect retail investors, so the regulatory agency is carefully considering “imposing limits on retail participation and rules on the use of leverage when transacting in cryptocurrencies,” he reported.
Shanmugaratnam took advantage of the current crypto market crash to remind that investing in these digital assets can be high risk, especially for small investors.
The financial regulator has been quite strict with cryptocurrencies in recent years, banning the installation of cryptocurrency ATMs in public places and removing cryptocurrency advertisements in different spaces, such as public transport.
Continue reading: Blockchain market accelerated in China after banning cryptocurrencies
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
