Solana Devs Tackle Network Issues
HashKey Launches Exchange In Bermuda, Etherscan Sees Phishing Ads
Welcome to Coinfeeds Daily Digest! Today we cover Ethereum's revenue hitting $1.2 billion in the first quarter with the help of NFT generation and user engagement, representing a 155% YoY growth, and Etherscan seeing an influx of phishing scam ads targeting explorers of blocks. Ripple CEO Brad Garlinghouse predicts that the crypto market would hit a $5 billion market cap by the end of 2024, potentially doubling, and crypto exchange HashKey went live in Bermuda with 21 digital assets for spot trading after securing a license there.
Following Solana's transaction finality troubles where reportedly 75% of non-vote transactions failed, developers have united to work on these network congestion issues caused primarily by spam transactions and Solana memecoin popularity. Solana's upcoming 1.18 update and fixes in the Agave validator client promise to help with network stability and "smoother" transactions.
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Solana Developers Are Tackling Network Congestion
The congestion on the Solana network has been traced back to two main factors: an influx of spam transactions and the growing popularity of new memecoins. Key initiatives include improving the network's underlying architecture and introducing fixes in the Agave validator client, a critical component of the Solana ecosystem. The upcoming release of the 1.18 update is particularly anticipated. | Read More
Phishing Scam Ads On Etherscan
The phishing ads in question were specifically designed to lure Etherscan users into engaging with them, under the guise of promoting a Multichain Yield Optimizer. Once clicked, these ads would redirect users to phishing sites, where scammers could potentially gain unauthorized access to personal information and digital assets. One of the ads was linked to around 23 phishing websites. | Read More
Ethereum Revenue Soars to $1.2B in Q1 2024
In the first quarter of 2024, Ethereum, a leading blockchain network, experienced an unprecedented surge in revenue, reaching $1.2 billion. This remarkable growth, which represents a 155% increase compared to the same period last year, highlights Ethereum's expanding influence and stability in the volatile cryptocurrency market. | Read More
Ripple CEO Says Crypto Market Will Double By End Of Year
With a bold prediction, Garlinghouse expects the global cryptocurrency market capitalization to soar, potentially doubling by the end of 2024. This would elevate the market's value beyond an astonishing $5 trillion. | Read More
HashKey Crypto Exchange Goes Live in Bermuda After Securing License
HashKey Global's launch comes after the company successfully obtained a license to operate in Bermuda, marking a critical milestone in its expansion strategy. Bermuda, known for its crypto-friendly regulatory environment, provides a solid foundation for HashKey. The new exchange is set to offer spot trading for 21 digital assets, with plans to introduce futures trading services in the near future. | Read More