Bitcoin is the future of finance, Hugo Botto said, highlighting the low commission fees on the network, even when transferring large amounts of money. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Low transaction fees on Bitcoin
📍One user has sent more than $2.000 billion in bitcoins, paying a fee of less than $1. On Twitter, Hugo Botto, founder of Healthy Pockets, highlighted why Bitcoin is the financial system of the future. Botto shared a transaction made by a Bitcoin user in which he transferred $2.064 million USD worth of BTC paying only $0,42 USD in the commission fee.
In addition to a fee of $0,42, the user did not have to wait for a bank or financial institution to verify or authorize their transaction.
According to Mempool, the Bitcoin commission rate for medium priority transactions is around 3 satoshis per vbyte (sat/vB), at the time of writing this article.
Cardano development activity is the highest in the industry
📍According to Santiment, Cardano is the blockchain with the most development activity in the last month. Cardano, the ninth largest cryptocurrency by market capitalization, has the highest level of development activity in the crypto industry, according to intelligence platform Santiment.
The intelligence platform indicated that the development activity recorded on Cardano was 18% higher than that of the rest of the cryptocurrencies. Polkadot, Kusama, Cosmos and Ethereum are the ones that follow Cardano on the list of cryptocurrencies with the highest development activity recorded in the last 30 days.
At the time of writing, Cardano is trading at around $0,31 per unit, up 1,7% in the past few hours, according to data from CoinMarketCap.
Land rental in Decentraland
📍Decentraland has launched a feature that allows users to rent land in the metaverse. With the new feature, virtual land owners in Decentraland can put their plots of land up for rent to earn passive income, while allowing other users to harness the potential of the metaverse to organize events, concerts, parties and more.
The United States, Europe and the regulations on cryptocurrencies
📍In the United States, the Securities and Exchange Commission wants to know which companies are linked to cryptocurrencies. The SEC plans to require companies to disclose any direct or indirect ties they have to cryptocurrency companies or crypto assets.
According to the regulator, the disclosure obligations that companies must comply with are intended to mitigate potential risks to avoid new cases like that of FTX.
Meanwhile, in Europe, the European Commission has unveiled a new tax framework that seeks to force cryptocurrency companies to file declarations on their users' financial activities and movements.
Fabio Panetta, a senior executive at the European Central Bank, he pointed the need for the region to regulate cryptocurrencies, in addition to monitoring the activity that occurs with crypto assets to mitigate tax evasion.
Continue reading: The great exodus: 200.000 bitcoins have left exchanges in the last 30 days
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.
