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Beyond the yuck factor: Cities turn to ‘extreme’ water recycling … – GreenBiz

In downtown San Francisco, in a cavernous garage that was once a Honda dealership, a gleaming white-and-blue appliance about the size of a commercial refrigerator is being prepared for transport to a hotel in Los Angeles.

There, this unit, called a OneWater System, will be installed in the basement, where its collection of pipes will take in much of the hotels graywater from sinks, showers and laundry. The system will clean the water with membrane filtration, ultraviolet light and chlorine, and then send it back upstairs to be used again for nonpotable uses.

And again. And again.

"There is no reason to only use water once," said Peter Fiske, executive director of the National Alliance for Water Innovation, a division of the Lawrence Berkeley National Laboratory, in Berkeley. Just as natural systems use and reuse water repeatedly in a cycle driven by the sun, he said, "we now have technologies to enable us to process and reuse water over and over, at the scale of a city, a campus and even an individual home."

While centralized water reuse for nonpotable purposes has been around for decades, a trend called the "extreme decentralization of water and wastewater" also known as "distributed water systems," or "on-site" or "premise" recycling is emerging as a leading strategy in the effort to make water use more sustainable.

Proof of concept is unfolding in San Francisco, which in 2015 required all new buildings of more than 100,000 square feet to have on-site recycling systems.

The concept is to equip new commercial and residential buildings as well as districts, such as neighborhoods and universities, with on-site recycling plants that will make water for nonpotable use cheaper than buying potable water from a centralized source. By driving down demand for potable water, which is costly to filter, treat and distribute, the units will help manage water more efficiently. It is, many experts believe, the future of water. Eventually its hoped that buildings will be completely self-sufficient, or "water neutral," using the same water over and over, potable and nonpotable, in a closed loop.

Its not just a pipe dream. Proof of concept is unfolding in San Francisco, which in 2015 required all new buildings of more than 100,000 square feet to have on-site recycling systems. So far, six blackwater and 25 graywater systems are using the technology, and many others are in the works. (Blackwater comes from toilets, dishwashers and kitchen sinks; graywater comes from washing machines, showers and bathtubs.) The headquarters of the San Francisco Public Utilities Commission has a blackwater system, the Living Machine, that treats its wastewater in engineered wetlands built into the sidewalks around the building, then uses it to flush low-flow toilets and urinals. The process reduces the buildings imported potable supply by 40 percent.

Recycling graywater alone can save substantial amounts of water. Using it to flush toilets and wash clothes reduces demand for new water by about 40 percent. Using recycled water for showers would eliminate another 20 percent of water demand, though the safety of that practice is being researched and is not yet permitted in San Francisco.

A fully circular system, in which water is reused on-site for both potable and nonpotable uses, is at least 5 years away.

To demonstrate its technology, Epic Cleantec, a water recycling company, has even brewed a beer called Epic OneWater Brew with purified graywater from a 40-story San Francisco apartment building.

With the megadrought and water crisis on the Colorado, the Rio Grande and other Western rivers, "extreme decentralization" is making its way to other places in the American West, including Colorado, Texas and Washington state. And decentralized projects are ongoing in Japan, India and Australia. There are serious pressures on fresh water supplies around the world, with climate change exacerbating shortages. A recent study found that more than half the worlds lakes have lost significant amounts of water over the last 30 years. By 2050, the UN estimates that 5 billion people could be subjected to water shortages.

"This is the future of water for everybody," Newsha Ajami, director of Urban Water Policy at Stanfords Water in the West program, said of decentralized water systems and recycling. "Its a slow-moving process, but at the end of the day considering all the scarcity a lot of communities are going to pick this up as a way of having economic development while having water security."

The technology to do this has been around for a long time. What has prevented [its] adoption has been regulatory hurdles.

San Franciscos recycling systems are not water neutral. The largest building with an on-site system is the Salesforce Tower, a 61-story office tower that opened in 2018 and is the tallest building in San Francisco. Built by the Australian company Aquacell, the system cleans 30,000 gallons of sewage, sink, shower and other wastewater each day and uses it for irrigation and toilet flushing, saving an estimated 7.8 million gallons of water a year. Thats the equivalent of the annual use of 16,000 San Franciscans, the company says. Outside water is still needed for potable uses. (In New York, the Domino Sugar Refinery redevelopment project, under construction on the Brooklyn waterfront, will recycle 400,000 gallons of blackwater a day.)

The San Francisco Public Utilities Commission, the water provider, estimates that there are a total of 48 reuse systems in operation and 29 more projects being planned in the city. By 2040, the agency says, its Onsite Water Reuse program will save 1.3 million gallons of potable water each day.

The technology for these buildings to capture and treat all their water to potable standards already exists. But the safety of direct reuse of recycled wastewater is still being studied, and U.S. regulations so far do not allow that. A fully circular system, in which water is reused on-site for both potable and nonpotable uses, is at least five to 10 years away in this country, experts say.

Centralized recycled water systems, by contrast, have been used for decades, although they too have rapidly grown as a solution to water shortages. Orange County, California, for example, is home to the worlds largest water recycling facility. It cleans 130 million gallons of blackwater a day in a process called indirect potable reuse. Highly treated wastewater, which would normally have been discharged into the ocean, is put through an advanced three-step purification process that includes micro-filtration, reverse osmosis and disinfection with ultraviolet light and hydrogen peroxide. The output is injected into nearby groundwater, to be pumped up and treated to drinking-water standards by local utilities.

In water-short Singapore, the massive Changi Water Reclamation Plant cleans and purifies 237 million gallons of wastewater a day to potable standards.

But the new reuse paradigm fundamentally rethinks water systems, localizing them in much the same way that households and districts with rooftop and community solar have transformed energy systems away from centralized power plants.

New buildings and neighborhoods, said Fiske, of the National Alliance for Water Innovation, may someday no longer need to hook up to sewer lines and water supplies. People will be able to build without regard to connections to water infrastructure, simply by using the same water again and again in a virtually closed loop. "The water that falls on the roof in most places in the world will be enough to sustain a home," predicts Fiske, citing a recent study that found that this approach could save at least 75 percent of water demand.

'Extreme decentralization' is making its way to other places in the American West.

Premise recycling not only saves water, it can also save the cost of pumping water over long distances and the costs associated with digging up streets for replacement and installation of pipelines. "Water is heavy," said Fiske, "And we live on a planet with gravity. So use water where you live over and over again."

While in some situations decentralized systems are expected to save money by reducing the energy needed to pump water, in others situations they could require more electricity to pump water through a building.

The increased prevalence of water recycling will allow water to be cleaned to varying standards or different "flavors" according to its intended use, a concept called "fit for purpose." Water to flush toilets, for example, doesnt need to be cleaned as thoroughly as drinking water.

The recycling systems being built in San Francisco are widely considered a success, and representatives from water-stressed cities around the world have come here to study the approach.

Epic Cleantec has designed a system that will provide 30,000 gallons a day for the Park Habitat office building, under construction in San Jose. Its blackwater system will be used to irrigate a living green wall on the towers 20-story exterior. The system collects water from rain, cooling towers, showers, toilets and sinks, then circulates it through a multistep treatment process in the basement. The solids are separated, sterilized and turned into a soil amendment.

This is the future of water for everybody.

"San Francisco has written the playbook and de-risked the whole process" by smoothing the regulations needed to build these systems, said Aaron Tartakovsky, who founded Epic Cleantec with his father, Igor, and is its CEO. "The technology to do this has been around for a long time. What has prevented the adoption of the technology has been regulatory hurdles. Without any established framework there was no way to get this done. What cities and states are doing is coming up with a clear playbook for how these systems can be operated safely and efficiently."

Tartakovsky said the systems Epic Cleantec is building cost from a few hundred thousand to a few million dollars. The return on investment takes about seven years, he says. After that, there are considerable ongoing savings on water and sewer costs that vary from building to building.

Heather Cooley, director of research for the Pacific Institute in Oakland, an independent organization that studies water sustainability, and an author of a report on distributed systems and water resilience, believes premise systems are essential for Californias water future. These on-site and distributed systems are an exciting addition to the range of tools to meet weather challenges, she said. "They will help build resilience." However, she added, "theres no silver bullet. Theyre not going to be applied in every building everywhere."

The water that falls on the roof in most places in the world will be enough to sustain a home.

It might seem counterintuitive that the San Francisco Public Utilities Commission requires new buildings to reduce their consumption of city water: After all, the commission is in charge of selling that resource. But San Francisco has a policy of densification in the urban core. As three- and four-story buildings are replaced with 10- and 12-story buildings, the cost of building new water infrastructure and finding new water sources is soaring.

Premise recycling is also taking place in what are known as districts. The University of California, Davis, has a blackwater system used for irrigation, and new neighborhoods are rising with their own closed-loop recycling systems. In San Diego, for example, developers are building a large district system to recycle blackwater at a shopping center thats being converted into an office campus.

"Neighborhood scale is the right scale for sustainability" for recycled water, said Claire Maxfield, director of the San Francisco office of Atelier Ten, a London-based engineering and design firm.

What are the barriers to wider-scale residential changes [on water reuse]? The yuck factor, experts say.

Maxfield led the sustainability team that helped design an 11-acre mixed-use district system for Mission Rock, a neighborhood under construction next to the San Francisco Giants ballpark. It will collect blackwater from a main sewer, filter it, then send it to all 17 of the neighborhoods buildings to be used for irrigation and toilet flushing. "It works really well, and it works really cost effectively" at the neighborhood scale, said Maxfield. "It shares the cost, its good for resilience and environmental justice. Its better than telling everybody to solve this on their own."

A recent study found this approach to water recycling adds about 6 percent to the cost of a single home and 12 percent to the cost of a multifamily dwelling. But as the number of people using these systems increases, economies of scale come into play, making recycled water far less expensive than city water.

The Hydraloop, created in Holland, is one home-based technology on the market, a kind of "water washing" machine. It recycles up to 95 percent of a households water, disinfecting shower and washing machine flows to irrigate lawns, flush toilets and fill swimming pools. Overall water consumption declines by 25 to 45 percent. A company in Vancouver makes a product called RainStick, which recycles shower water over and over while you shower.

What are the barriers to even wider-scale residential changes? The yuck factor, experts say. "When we talk about reuse, theres a lot of fear" among builders and architects, said Maxfield, although she believes they can be overcome.

Thats why, she said, decentralization of water and waste systems appears to be destined to play a major role in a water-stressed world. "No one talked about carbon 20 years ago" in the design of buildings, Maxfield said. "And now everyone does. Water is going to have that moment."

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The Impact of Applying Securities Laws to Cryptocurrencies … – Crypto Times

So, currently, a lot of buzz is going around about whether crypto is a security or not. Currently, the status of crypto regulations in major countries like the U.S., China, India, and others is uncertain. Due to such uncertainty, a lot of crypto businesses are suffering, eventually impacting a lot of investors.

However, the U.S. Government and SEC (Securities and Exchange Commission) strongly intended to implement securities laws on crypto investment in spite of forming separate regulations. If this becomes a reality, the crypto market will be significantly impacted, transforming crypto businesses.

Note that, recently, the SEC has ramped up an anti-crypto campaign by filing lawsuits against major crypto exchanges like Binance and Coinbase. The authority accuses these crypto exchanges of selling unregistered securities. These lawsuits also faced a lot of backlash from the crypto community for harassing crypto innovation.

In this article, we will discuss possible implications for investors if crypto assets are considered securities.

In the financial world, security refers to tradable financial assets such as stocks, bonds, and derivatives that represent ownership or creditorship in a company or government entity. These securities can be bought, sold, or traded on financial markets, and they provide investors with potential returns or income based on the performance of the underlying assets.

Securities laws are regulations that govern the buying, selling, and trading of financial investments such as stocks and bonds to protect investors and ensure fair and transparent markets.

If the securities laws apply to cryptocurrency there will be positive as well as negative outcomes for the crypto community and businesses.

Additionally, the inclusion of cryptocurrencies as securities may subject them to additional tax obligations, such as capital gains tax on the sale or exchange of securities. The complexity of crypto tax reporting, including tracking cost basis and transactions, can create additional burdens for individuals and businesses.

Also Read: Crypto Regulations: Protector or Destroyer of Crypto Innovation?

The crypto community has concerns regarding securities laws in several areas. One major concern is the lack of clarity and consistency in how cryptocurrencies and related activities are regulated under existing securities laws. Different countries and jurisdictions have varying interpretations of whether certain cryptocurrencies or initial coin offerings (ICOs) should be classified as securities. This lack of uniformity creates uncertainty for individuals and businesses operating in the crypto space.

Furthermore, Securities laws impose various compliance requirements, such as registration, reporting, and disclosure obligations, on entities offering or trading securities. These requirements can be complex, time-consuming, and costly to comply with, especially for smaller crypto startups and projects. The burden of complying with securities laws may stifle innovation and limit the growth of the crypto industry.

While securities laws aim to protect investors and ensure transparency in capital markets, some crypto enthusiasts argue that these laws may unintentionally exclude certain individuals from participating in crypto investments. Securities laws often impose limitations on who can invest in private offerings, which can restrict access to investment opportunities for retail investors or individuals with limited financial means.

Determining whether a cryptocurrency or token qualifies as a security under existing laws can be challenging. Securities laws typically define securities as investment contracts involving an expectation of profits derived from the efforts of others. However, cryptocurrencies have diverse functionalities that may not neatly align with traditional securities definitions, such as being used for utility purposes or as a means of exchange. Disputes over token classification can lead to legal uncertainties and regulatory disputes.

The decentralized and borderless nature of cryptocurrencies poses challenges to the application of securities laws. Cryptocurrencies can be traded across different jurisdictions, making it difficult for regulators to enforce their regulations consistently.

Furthermore, different authorities provide varying statements on cryptocurrencies and seek to regulate them under different laws. For instance, the Internal Revenue Service (IRS) intends to treat digital assets such as cryptocurrencies, stablecoins, and NFTs as property. As per the IRS document, general tax principles applicable to property transactions will also be applied to transactions involving digital assets. Moreover, crypto investors and businesses are required to disclose their crypto holdings to the IRS in order to comply with taxation policies.

The classification of cryptocurrencies as securities or commodities has sparked a debate among regulators, with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) expressing contrasting opinions. This regulatory divergence has significant implications for the treatment and regulation of cryptocurrencies.

The SEC, under the leadership of Chairman Gary Gensler, asserts that the majority of cryptocurrencies should be classified as securities. Gensler has referred to the Howey Test, a legal standard used to determine whether an asset qualifies as an investment contract, and has emphasized the need for regulatory adherence in the crypto industry. According to Gensler, cryptocurrencies, except for Bitcoin which is considered a commodity, should comply with securities laws.

Gensler has stated that all cryptocurrency companies should come into compliance with the law, and the SEC will continue to act as the regulatory authority, investigating and pursuing non-compliant entities. The SEC has recently expanded its list of cryptocurrencies classified as securities to approximately 61, further reinforcing its position.

Furthermore, with the signing of the Market in Crypto-Asset (MiCA) into law by European officials, the European Union has taken steps towards regulating crypto-assets, aligning with the SECs approach

The distinction between securities and commodities is crucial in the regulation of the crypto market. Securities represent a claim on the issuer and are subject to SEC regulation. They involve investment contracts where investors anticipate profits from the efforts of the promoter or a third party. Compliance with securities regulations can be challenging, and decentralization is often pursued to avoid falling under these laws.

On the other hand, during a hearing, the Chair of the Commodity Futures Trading Commission (CFTC) clarified that, apart from Bitcoin, several digital assets including Ethereum and Stablecoins are considered commodities.

These differing regulatory approaches create a dilemma for investors and businesses, as they must navigate and comply with regulations that vary across jurisdictions. Ultimately, an unclear stance of the government and regulators sparked outrage in the crypto community against them.

The regulation of commodities focuses on ensuring fair trading and preventing money laundering, overseen by entities such as the CFTC.

Determining whether a cryptocurrency is classified as a security or a commodity is crucial as it impacts its regulatory requirements. If considered a security, issuers and exchanges must obtain licenses from securities regulators, making compliance difficult. To circumvent securities classification, cryptocurrencies often strive for decentralization and engage token holders in project growth through mechanisms like proof-of-stake.

The classification of cryptocurrencies as securities or commodities also affects their listing on exchanges. Exchanges may avoid listing cryptocurrencies classified as unregistered securities to avoid penalties. Additionally, state-specific rules and regulations can further complicate matters, leading to legal challenges and enforcement actions.

The debate surrounding the classification of cryptocurrencies is ongoing, with various proposals and approaches emerging. Efforts are being made to grant the CFTC broader regulatory authority for non-security tokens, while some suggest treating crypto as its own asset class with unique rules.

Investors must understand the distinction between security and commodity tokens. Security tokens represent ownership in a company or project and adhere to regulatory rules for investor protection.

Commodity tokens offer ownership or rights to physical assets and provide fractional ownership and easy transferability. Investors should carefully consider the advantages and risks associated with each token type and navigate the regulations accordingly to make informed investment decisions.

As the regulatory landscape continues to evolve, variations in classification and rules for different cryptocurrencies are expected, adding further complexity to the regulatory environment surrounding cryptocurrencies.

Also Read: How Binances Legal Battle With SEC is Different From FTX

Conclusion:

Its important to note that the implications would vary depending on the jurisdiction and specific regulatory frameworks implemented. Crypto asset regulations are still evolving and can differ significantly between countries. Therefore, investors should stay updated on the legal and regulatory developments in their respective jurisdictions.

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Pepe Coin is Going to Zero as PEPE Price Falls 20% in a Week and … – Cryptonews

Source: TradingView

The price of Pepe Coin (PEPE) has risen by 4% in the past 24 hours, although its move to $0.00000152 today still means that it's down by nearly 20% in the past week.

And while PEPE is actually up by 60% in the last 30 days, it remains down by 64% since hitting an all-time high of $0.00000431 in early May.

Its inability to come close to this record high in recent weeks would suggest that PEPE is not going to regain its former glories, and that the meme token is in the drawn-out process of a terminal decline.

However, new meme tokens are likely to take its place, with the ability of Thug Life Token (THUG) to raise nearly $1 million in its presale, indicating that it could be one of the next trending coins.

PEPE's chart is not in a great position right now, with its indicator suggesting that further falls are very likely possible.

PEPE's 30-day moving average (yellow) continues to fall towards its 200-day (blue), with there being plenty of space left before it drops below the longer-term average and bottoms out.

At the same time, the meme token's relative strength index (purple) is languishing below 50 and doesn't look like it will rise any higher at the moment, with a drop toward 30 or lower entirely plausible.

It's also worth mentioning that PEPE's support level (green) hasn't really gained any ground in the past couple of weeks, implying that the token not only lacks momentum but maybe isn't well-protected against further drops.

However, while it could be suggested that PEPE isn't going to do much in the foreseeable future, it's interesting that whales continue to use the meme token as a vehicle for short-term gains.

As such, the coin could continue witnessing modest rallies in the next few months, potentially enabling retail investors to ride along for some quick gains.

However, trying to follow whales isn't always a sensible trading strategy, with PEPE's recent price history suggesting that it isn't going to recover its ATH anytime soon.

For this reason, traders may prefer to hunt for the next hot meme token, and a very good candidate in this respect is Thug Life Token (THUG), an ERC-20 meme coin that has aligned itself with the gangsta rap and hip-hop communities.

Kicking off its presale a couple of weeks ago, THUG has already raised close to $1 million, providing a clear indication that investors are quickly gaining interest in the meme coin.

This figure is impressive, given that the total stood at $750,000 only yesterday, a sign that things are accelerating.

This is largely because the THUG presale will end in just under six days, with investors beginning to rush in order to buy some THUG while they can still get it at a discount.

Another factor in the success of the presale is THUG's decentralization, with the presale being allocated 70% of its total maximum supply (4.20 billion).

This level of decentralization has likely reassured investors that the meme token will be decentralized enough to prevent dumps and sudden drops, something which has plagued the recent wave of new meme coins.

New buyers can still join the presale by going to the official Thug Life Token website, with 1 THUG costing $0.0007.

And given that the sale is now taking off, THUG could easily rise well beyond this price when it lists on exchanges in the next few weeks.

Visit Thug Life Token Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Expert Reveals Top Cryptos to Invest In During Market Turmoil – Coinpedia Fintech News

Renowned crypto pundit and investor, Ran Neuner, has recently shared an insightful analysis of cryptocurrencies that he believes exhibit remarkable resilience during market downturns. Notably, Neuner has included Ripples XRP in his list of top five indispensable tokens in a bear market scenario.

Delve into the analysis here.

Neuners approach to identifying resilient tokens involves a meticulous assessment process based on seven key questions. These questions revolve around factors such as the network effect, community authenticity, user base, decentralization, regulatory compliance, fee generation, and innovation.

His discerning attitude and meticulous evaluation process underscore the importance of thorough research before committing funds.

In Neuners evaluation, XRP stands out for its strong network effect, genuine community, and substantial user base. The XRP tokens decentralization and ability to navigate regulatory uncertainties are critical factors that contribute to its positive ranking in Neuners assessment method. Although XRPs concept may not be the newest, it compensates by excelling in all other aspects, solidifying its position as a pivotal player in the crypto space.

Related: XRP Price Might Surge To $3.5 $10 Amidst Settlements, Relisting, and Ripple IPO

Neuner is not one to shy away from expressing concerns about specific cryptocurrencies. In his analysis of Binance Coin (BNB), for instance, he highlighted apprehensions regarding its decentralization and future regulatory interactions. Based on these concerns, Neuner chose not to invest in BNB, emphasizing the importance of thorough research before committing funds.

Neuners evaluation of Cardano (ADA) has sparked controversy, mainly due to his assertions about the tokens community and user base. Neuner urged crypto enthusiasts to have a clear understanding of their investment rationale, stressing the significance of looking beyond mere hype. This advice holds particular relevance given the surging popularity of Cardano and its potential implications for investors.

Read More: Cardano Price: Top Reasons Why ADA Price Will Start Outperforming Soon

Another cryptocurrency that received a favorable review from Neuner is Solana (SOL). Solana scored positively in terms of network effect, community strength, and user base. Despite regulatory uncertainties surrounding the token, its ability to generate fees makes it an attractive choice for potential investors.

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Ethereum Address Creation Spikes, Adoption On The Rise? – NewsBTC

On-chain data shows that the Ethereum network has been observing high address creation recently, a sign that adoption could be going up.

According to data from the on-chain analytics firm Santiment, ETHs network growth has now hit its highest level in around four months. The network growth here refers to a metric that keeps track of the total amount of new addresses that are being created on the Ethereum blockchain.

When the value of this metric is high, it means that a large amount of new addresses are coming online on the network. New addresses may be considered analogous to new users joining the chain, so this kind of trend can be a sign that the cryptocurrency is observing high adoption at the moment.

On the other hand, low values of the indicator can imply not many new investors are coming to the network as there arent many new ETH addresses being created. Such a trend can be a sign that the asset isnt looking very attractive to the general public currently.

Now, here is a chart that shows the trend in the Ethereum network growth over the last few months:

As displayed in the above graph, the Ethereum network growth has been observing a rise recently. This would suggest that addresses are being created at increasingly faster rates right now.

Generally, adoption picks up during periods of high price volatility as the investors usually find such price action exciting, and so, the network growth indicator can register a spike.

Recently, however, the assets price has been mostly moving sideways below the $1,900 level, making it interesting that the indicator has been going up nonetheless. Perhaps the general investors saw the rally that lead up to this period of consolidation and now think that it may pick up again eventually.

During the past week alone, the metric has seen a combined value of 550,800, meaning that 550,800 new addresses have just been created on the Ethereum network in this period.

Usually, adoption can have a constructive effect on the cryptocurrencys price, as it shows increasing interest in the asset, which is generally also accompanied by an influx of more capital into the coin.

Though, the impact from such a growth in the network doesnt usually immediately appear; the effect on the cryptocurrencys market cap may be visible in the long term.

Still, the adoption accelerating while the rally has slowed down to a crawl can be a positive for those hoping to see the price surge restart, as it at least means that interest in the asset hasnt died down yet.

At the time of writing, Ethereum is trading around $1,800, down 1% in the last week.

Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net

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Ethereum news: rising fees because of a token – The Cryptonomist

Breaking news: the day before yesterday the average cost per transaction on the Ethereum blockchain rose to almost $15.

Only three days earlier it was $4, and yesterday it was at $10 already.

What generated this spike?

According to some, what generated this significant and sudden increase in fees was an airdrop on XEN.

To be precise, the cause would be the VMPX token.

In reality, it appears that this was an attempt at fraud.

Indeed, a tweet had been posted on the official VMPX Twitter profile, which was later removed, announcing an airdrop of VMPX tokens.

No such airdrop took place, but many people who wanted to receive VMPX tokens raised fees as high as $317 per transaction.

The VMPX token landed on the crypto markets only in early May, and since then it has already lost 80% of its value.

In fact, on the very day it was launched, it went from $0.25 to $0.38 in just a few hours, immediately setting an all-time high.

It later dropped to $0.14 within just three days, then plummeted to $0.05 in late May.

In early June it bottomed out below $0.04, but just before the middle of the month it began a brief climb back up to $0.18.

Following this rebound, however, it collapsed again, eventually falling back below $0.08.

VMPX is a meme token using the BRC-20 format, i.e. it is an Ordinals on the Bitcoin blockchain.

By contrast, the fake airdrop that had been announced on XEN was regarding its ERC-20 version on the Ethereum blockchain.

It had made headlines just before mid-May when the BRC-20 memecoin trend had broken out.

Right around that time, fees on Bitcoins blockchain exploded.

Taking the average daily cost per single transaction as a reference, they rose above $30 on 8 May, up from $2.9 at the beginning of the month and $3.1 on the 14th.

VMPX was launched on 9 May.

It is worth noting that at the end of April the average fees on Bitcoin on-chain transactions were less than $1, and now they are at about $1.5.

Thus memecoins like VMPX had already raised fees in May on Bitcoins blockchain.

Something similar is also happening in recent days on the Ethereum blockchain, although the spike was lower ($14).

It is worth mentioning that on the Ethereum blockchain there was also a spike in the average cost per transaction in early May to $27.

The difference is that the May spikes were due to actual token launches, while the one the day before yesterday was probably also due to a scam attempt.

Blockchains have a maximum limit of transactions beyond which they can no longer handle them all.

Transactions that are not handled end up in a kind of queue that is generally disposed of more or less quickly over time.

Since transactions with higher fees are processed first, those who need to jump the queue are actually forced to pay much higher fees than average. Therefore, when the queue is long, the cost of fees actually increases.

The solution would be to bypass the queue completely, simply by not recording transactions on the blockchain. This is actually done by the Lightning Network (LN), which is the main layer-2 of Bitcoin.

LN has no real upper limit on the number of transactions that can be recorded, because anyone can create a node and manage as many as they want.

On Ethereum such off-chain solutions are not yet widely used, because people prefer to use sidechains or otherwise solutions that favor on-chain registration of all transactions.

It is worth mentioning, however, that the maximum limit of transactions that Ethereums blockchain can support is far higher than that of Bitcoin.

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As Ethereum NFTs grow, heres what you should consider – AMBCrypto News

Ethereum [ETH] NFTs were having a hard time for quite a few months as the number of mints plummeted. However, the scenario witnessed a trend reversal since last month as the numbers rose. Not only that, but user activity also registered an uptick as per the latest data.

Read Ethereums [ETH] Price Prediction 2023-24

While this happened, ETH was able to once again cross the $1,900 mark. But the uptrend did not last long, as its price once again settled under that mark. Should investors expect ETHs price to rise in the coming days?

A recent tweet posted by Nansen revealed that the number of ETH NFTs minted were declining. In fact, it reached its lowest level in May 2023 since June 2021. Not only that, but IntoTheBlocks tweet also pointed out a similar declining trend in terms of NFT sales, as they reached 50,000.

However, things have finally started to change, as pointed out by Nansens tweet, as the number of mints increased by 48% in June.

Last month, there were over 750 ETH NFTs minted. As per CRYPTOSLAMs data, the number of NFT buyers and sellers also went up by 20% in the last 30 days. Surprisingly, a look at Santiments data painted a different picture.

After spiking in June, both Ethereums number of NFT trade counts and trade volume in USD declined.

Amidst these updates, ETH once again faced a price correction, as after crossing $1,900, it again settled under that mark. According to CoinMarketCap, ETHs price declined by nearly 3% in the last seven days.

At the time of writing, Ethereum was trading at $1,860.19 with a market capitalization of over $223 billion. Are there any chances of ETH once again crossing $1,900 anytime soon? A look at its on-chain metrics gave a few answers.

As per CryptoQuant, ETHs exchange reserve was increasing, suggesting that it was under selling pressure. Its Coinbase Premium was also red, meaning that US-based investors were selling on that exchange.

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Santiments chart revealed that Ethereums MVRV Ratio was also down, further increasing the chances of a continued downtrend. Fewer new addresses were created last week to transfer ETH, as evident from the dip in its network growth.

However, the good news was that Ethereums Open Interest was declining. A drop in the metric suggested that the ongoing price trend might soon end.

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As Ethereum NFTs grow, heres what you should consider - AMBCrypto News

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Bitcoin BRC-20 Tokens Are Now Moving Over to Ethereum – Decrypt

Six months after launching a protocol that lets people mint NFT-like media assets on the Bitcoin blockchain, the Ordinals space is rapidly evolving. Not only are new products springing up one after another, but the Ordinals-based BRC-20 tokens are now expanding onto none other than Ethereum, the dominant NFT and token ecosystem.

Two of the largest BRC-20 tokens on the market, ORDI and OXBT, have partnered with Emblema tool that lets users store tokens across blockchains without need for a bridgeto release BRC-20 Curated Collections.

This should be considered a day in which BRC-20s began exploring what their asset class is, said Jake Gallen, who is in charge of NFT strategy and product at Emblem.

BRC-20 tokens use the Ordinals protocol to generate what are effectively fungible tokens built on top of the Bitcoin blockchain. Broadly, theyve been used thus far to create a wide variety of meme tokens, with the total market cap of all BRC-20s briefly nearing $1 billion in May before falling sharply since.

Gallen told Decrypt that the BRC-20 Curated Collections are important because we can now test what type of asset BRC-20s are most closely related to. Hes looking forward to how the community views them, and whether they want to trade them like fungible tokens or want some variety.

He teamed with Adam McBride, colleague and self-proclaimed NFT archaeologist, to share a video deep dive earlier this week about the collection launch. An official launch was pegged for next week, but the functionality is already live and the resulting NFTs are being traded on the OpenSea and Blur marketplaces.

According to McBride, the innovation at play with the new partnership is to sidestep traditional cross-chain bridges. He explained that before, users would send their BRC-20s to a Bitcoin wallet, which then would mint new ERC-20s on Ethereum.

Emblems solution, created in-house, is to create specialized vaults. Before Ordinals, Emblem vaults were used to transfer digital artwork minted on other Bitcoin-related protocols (like Counterparty) over to Ethereum, where they were newly minted as ERC-721 NFTs. The Rare Pepe collection is a prominent example.

In this case, with Ordinals-based BRC-20 tokens, users send their ORDI or OXBT to a vault which stores the private keys and holds the tokens. Then, using a single ERC-721 token, users will mint their Bitcoin-based NFT on Ethereum.

In essence, the BRC-20 sits inside a Taproot wallet, which sits inside an NFT, said Gallen, explaining that the NFT (which is an ERC-721 token) is the one doing all the traveling.

Im super excited to see how the Ethereum marketplace will react to this, said McBride. This will bring a level of ownership which is far more superior than what already exists, unlocking a bunch of use cases like farming, lending, and other stuff that is built out on Ethereum smart contracts.

The creator of BRC-20s and ORDI in particular, pseudonymous on-chain data enthusiast Domo, did not reply to a request for comment. According to Gallen, however, Domo is really excited to get to show his creation to Ethereum, adding that getting those tokens to OpenSea and Blur is huge.

Gallen told Decrypt that the Emblem team has interacted more with ORDI builders than holders, whereas they are in direct contact with the OXBT communityled by the pseudonymous BitGodsince it is more ETH-native, "so the interest in ETH-denominated trading is much higher."

Nonetheless, Gallen said that Emblems team believes Bitcoin can equal or overtake Ethereum in NFT trading volume, but with its own culture and style.

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Passive Income in Crypto: Exploring Ethereum’s Potential with … – Analytics Insight

In the realm of cryptocurrencies, Ethereum (ETH) stands tall as the ultimate passive income infrastructure. With its robust blockchain and vibrant ecosystem, Ethereum has become a favored platform for new projects seeking to offer passive income opportunities.

This article delves into the world of Ethereum, shedding light on its ecosystems role in enabling passive income rewards through the likes of BEASTS Coin (BEASTS), Uniswaps (UNI) liquidity-providing, and lending on DeFi protocols like Aave (AAVE)!

Uniswap (UNI) takes center stage as a pioneering decentralized exchange (DEX) that has revolutionized the crypto landscape. Unlike traditional exchanges that rely on order books, Uniswap leverages automated market-making algorithms and liquidity pools. This unique approach eliminates the need for intermediaries, offering faster, more cost-effective, and highly efficient trading experiences.

Uniswaps key strengths lie in its simplicity and accessibility. By becoming a liquidity provider on Uniswap, individuals can contribute their tokens to liquidity pools, earning passive income in return. As these liquidity pools facilitate trades and generate transaction fees, providers are rewarded with a share of those fees, creating a potential avenue for passive income generation.

Enter the world of Aave (AAVE), a leading decentralized lending protocol within the Ethereum ecosystem. Aave offers users the opportunity to earn passive income by lending their digital assets to borrowers on the platform. By depositing funds into Aaves lending pools, individuals can earn interest on their holdings, creating a consistent and passive income stream.

Aaves strengths lie in its extensive range of supported assets, transparency, and robust security measures. Users have the flexibility to lend a wide variety of tokens and enjoy competitive interest rates based on supply and demand dynamics. Furthermore, Aaves protocol is built with a strong focus on security, ensuring that users funds are protected against potential vulnerabilities.

Introducing BEASTS Coin (BEASTS), an exciting new meme coin built on the Ethereum blockchain. BEASTS Coin intertwines science fiction with the world of cryptocurrencies, immersing investors in a captivating narrative. In this storyline, the enigmatic mastermind, Dr. Jekyll, unleashes genetically mutated animals known as Caged Beasts, challenging the oppressive dominance of humanity. By engaging with BEASTS Coin, investors become part of this immersive storyline, blurring the boundaries between fiction and reality.

BEASTS Coin also offers a unique twist to traditional exchange referral programs. Through the Caged Beasts Coin referral system, users can access an array of referral codes that can be generated infinitely. This opens the door to earning an instant 20% commission of USDT, ETH, or BNB on referral rewards! Both the provider and recipient of the code benefit from a 20% gain, making it the ultimate win-win situation!

The world of cryptocurrencies is evolving, and Ethereums ecosystem has emerged as a hotbed for passive income opportunities. Uniswaps innovative approach to decentralized trading and liquidity provision, along with Aaves empowering lending protocols, offer investors exciting avenues for passive income generation.

Additionally, BEASTS Coin introduces a fresh and captivating narrative, engaging users in a unique meme coin experience. As the crypto market continues to evolve, embracing these opportunities can be both financially rewarding and exhilarating. Embrace the future of passive income with Ethereum at the helm.

BEASTS Coin:

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS

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Ethereum ($ETH) Whales Move $140 Million to Crypto Exchanges – CryptoGlobe

In a recent flurry of significant digital asset transfers, Ethereum (ETH) investors with considerable financial reserves, colloquially known as whales, have moved approximately $140 million of the cryptocurrency into leading exchanges such as Coinbase, Kraken, and OKX.

According to data from the Ethereum blockchain, first reported n by whale monitoring service Whale Alert, underscores a trend among notable ETH investors, with several transactions worth millions of dollars moving to exchanges after the supply of the second-largest digital asset by market capitalization fell on exchanges in June.

One transaction involved a transfer of 20,000 ETH (valued at just over $38 million) from Arbitrum (ARB), a layer-2 scaling solution, to the popular San Francisco-based digital asset exchange, Kraken.

In another striking move, a transaction amounting to $48.3 million (equivalent to 25,264 ETH) was sent from an unidentified wallet to Coinbase, the largest cryptocurrency exchange platform in the U.S. based on transaction volume.

On top of that, another cryptocurrency whale moved 30,000 ETH (worth nearly $57.7 million) to OKX, a Seychelles-registered digital currency exchange. Notably, these large transactions come as major financial powerhouses that collectively manage an astounding $27 trillion in assets are making inroads into the world of Bitcoin and cryptocurrency after a race to list the first spot Bitcoin exchange-traded fund (ETF) in the United States kicked off.

A recent report from Goldman Sachs citing on-chain data, the supply of the largest cryptocurrency by market capitalization, Bitcoin, tumbled on exchanges by 4%, approaching levels recorded in December 2022. This was the lowest level witnessed since November 2020, immediately prior to the 2021 bull market.

Goldman Sachs report also noted that Ethers supply on exchanges dropped by 5.8%, reaching a level that hasnt been seen since May 2018. This propensity towards self custody is propelled by a convergence of factors, the banking giant stated. These include spot exchanges facing regulatory headwinds, and cyber hacks and theft remaining a concern.

For Ether specifically, Ether staked Ether withdrawals have resulted in investors preference to stake ether, instead of passively holding on exchanges.

Featured image via Unsplash.

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Ethereum ($ETH) Whales Move $140 Million to Crypto Exchanges - CryptoGlobe

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