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Due to this substantial cost reduction, L2s have been able to lower the gas fees charged to users. Consequently, the cost of conducting regular transactions, such as ETH transfers or Uniswap transactions, on most L2s has also decreased by over 90%.
The current burn rate drop over the past 24 hours coincided with Shiba Inu's attempt to recover by more than 5% after a significant 11% drop on Monday. At the time of the report, Shiba Inu was trading at $0.00001855.
It is expected that State Street Bank and Trust will provide administrative and accounting services for the new digital assets ETFs that State Street Global Advisors and Galaxy jointly develop. Laurent Kssis, a crypto ETF specialist at CEC Capital, noted that the announcement appears short on detail.
According to Foresight News, Riot Blockchain, a cryptocurrency mining company, is reportedly planning to acquire its competitor, BitFarms, a Bitcoin mining firm.