In a significant development in the global semiconductor industry, Nvidia CEO Jensen Huang announced on December 4th that the company will prioritize supplying artificial intelligence (AI) processors to Japan. This commitment comes amidst soaring global demand for these critical components. Japan’s rejuvenated focus on semiconductor infrastructure Japan, once a world leader in the field, is ... Read more
Crypto Execs Argue Bull Run Could Lead to $100,000 BTC in 2024 + More News
Source: AdobeStock / fotokitas Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Crypto Execs Argue Bull Run Could Lead to $100,000 BTC in 2024 Spanish Police Arrest a Man for Working with ETH Dev in N. Korea, Violating US The post Crypto Execs Argue Bull Run Could Lead to $100,000 BTC in 2024 + More News appeared first on Cryptonews .
Ethereum Turns Deflationary With Over 106,000 ETH Burned In A Single Month
The Ethereum ecosystem is back on track with its mission to ensure that Ether is deflationary following a significant increase in the burn rate. Several factors are said to have contributed to this milestone, including voluntary exits by validators. Over 106,000 ETH Burned In The Last 30 Days According to data from Ultra Sound Money, over 106,000 ETH have been burned in the last 30 days. In that same period, only just over 70,000 ETH have been issued. This has caused a significant decrease in Ethereum’s supply, with it being down by over 35,000 ETH. Related Reading: The Big Move: Crypto Pundit Predicts When Bitcoin Will Reach A New ATH This is a welcome development, as the disparity between the burn and issuance rate hasn’t always been this obvious. That led to concerns as to whether ETH was truly deflationary or not. It also began to seem like the London Hard Fork wasn’t effective. Ahead of the Merge, Ethereum introduced this upgrade in its efforts to make ETH deflationary. ETH investors are sure to be delighted with the fact that the token has once again become deflationary. Such development could propel ETH’s price to new heights. Moreover, it comes at a time when the market is preparing for an imminent bull run. As such, this macro factor, alongside other ones, places it at the forefront to be one of the biggest gainers. ETH price recovers above $2,200 | Source: ETHUSD on Tradingview.com Factors That Have Contributed To The Ethereum Deflationary Status A report by Glassnode provided insights as to why Ethereum is deflationary once again. One of them happens to be the fact that the number of validators onboarded has slowed in recent weeks. Instead, Ethereum has an increasing number of validators exiting the ecosystem. This development has ultimately caused ETH issuance to slow. This trend of exits notably began at the start of October. This seems to be when investors actually began to take full advantage of the Shanghai upgrade that had taken place in April. Before October, the exiting event is reported to have been at an average of 309 validators per day. That increased to 1018 validators per day at the start of October. Related Reading: Bitcoin Miner Revenue Sees Massive 6-Month Crash – What’s Going On? Meanwhile, the burn rate during this period is said to have increased significantly due to the growing network activity. The increase in network usage has led to higher gas fees. The daily amount of transaction fees burned through the EIP1559 protocol has also increased as a result. The accumulated fees burned between October and November are reported to have reached 5,368 ETH. Ethereum is flying high at the moment, and this could be partly due to its recently achieved status. At the time of writing, the crypto token is trading at around $2,240, up by over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from CryptoTV, chart from Tradingview.com
Did Odisha Government Earn ₹6,500 Crore In Forex Profit From Software Exports?
Odisha and foreign exchange worth Rs. 6500 crore from the software export industry in FY 2022-23. Odisha recorded around 22% growth from software exports in 2012-13, reaching a value of Rs. 1970 crore. This year, the state has reached another financial milestone by reaching another peak, thanks to the Odisha software industry. In this article, …
Jellyverse secures $2M seed funding for DeFi 3.0 on DeFiMetaChain
Jelly Labs AG and Fintonomy LTD have secured $2 million in seed funding from private investors. The funds will drive the development of Jellyverse, a groundbreaking platform for advanced DeFi services built on the innovative DeFiMetaChain (DMC). This initiative, led by the core team behind DeFiChain Accelerator, marks a pivotal step towards bridging real-world assets