Ethereum continues to solidify its position as a leading force in the crypto world. After an exhilarating Pepe-driven surge into deflationary territory earlier this year in April and May, Ethereum has experienced periods of inflation. However, this hasn't deterred its momentum. The "on-chain summer" has brought to the forefront emerging winners like UNIBOT and RLB, showcasing the dynamic and ever-evolving nature of the Ethereum ecosystem.
While we've observed 6 to 8 hours of deflation daily, the remaining hours have seen a supply inflation of less than 20 GWEI. But here's the kicker: had Ethereum still been operating under a proof of work mechanism, an astounding $6 billion worth of ETH, which translates to approximately 3.6 million units of ETH, would have been released to miners since the Merge. This avoided emission underscores Ethereum's commitment to sustainability and value preservation.
Ethereum's transition strategies and adaptability are not just about managing supply; they represent a forward-thinking approach that prioritises long-term growth and stability. For investors and crypto enthusiasts, Ethereum isn't just another cryptocurrency; it's a testament to innovation and a promising bet for the future. Trust in Ethereum is not just about its current performance but its potential to redefine the crypto landscape.
Total Crypto Market Cap: $1.089T (-11.02%)
DeFi TVL: $40.87B (-7.24%)
Stablecoins: $124.058B (-0.34%)
In the buzzing world of social media, a groundbreaking venture has emerged, pioneered by 0xRacer: Friend Tech. At its core, Friend Tech is a marketplace not for goods, but for connections.
Think of it as buying a special ticket to a VIP chat room. When you own keys in someone, like purchasing shares in a company, you gain exclusive access to chat privately with that person. The interesting twist? When they send out a message, every shareholder can see it. And while they can view every individual message sent to them by their shareholders, those shareholders can't see the messages others are sending. To an outsider, it might seem as though these Twitter users are merely chatting away with themselves.
Figure 1 - FT Leaderboard.
Backed by Paradigm and launched on the Base Optimistic Rollup, Friend Tech is swiftly gaining traction. On the platform's display, you'll notice a list of the current highest-priced keys, and among them, familiar names like Ansem, Hsaka, and Cobie stand out.
The demand for these keys is high, as people are excited about the prospect of accessing valuable information, gaining early insights, or simply having the chance to engage with these personalities directly!
Just a week after its launch, it seems like almost everyone on CT has jumped on board and, for those who haven’t yet explored this new venture, it's worth taking a look. Starting out doesn't require a huge investment, as the initial keys are reasonably priced. Moreover, there's buzz about Friend Tech planning to introduce an airdrop model reminiscent of what Blur employed. This suggests users might be able to earn tokens by engaging in buying and selling activities on the platform. While early adopters might find the application a tad clunky and challenging to navigate, it's evident that improvements are rapidly underway.