Ethereum Holesky did not launch due to technical problems

Bitcoin showed signs of modest gains, rising about 3,25%. in the last seven days. The cryptocurrency started last week around $25 and dropped to below $400 before rising for the rest of the week. Currently, the bitcoin rate is at eToro is approximately $26.

Ethereum also posted gains last week, although even more modestly. It started below $1 before falling to around $600. Since then, the price has recovered and is now just above $1, up 525%. within seven days.

Markets may be nervous in the coming days, awaiting decisions on interest rates in the US (Wednesday) and the UK (Thursday).

Despite inflation falling in both economies, there are signs that this retreat may not be fully felt yet. Like other high-risk assets, cryptocurrencies are sensitive to interest rate expectations, so any tightening of the tone could make investor sentiment bearish.

Bitcoin Outperforms Visa Transaction Volume

Według Reflexivity Research, the annual transaction volume on the Bitcoin network exceeded the volume of transactions settled by Visa for the first time, which is a milestone for cryptocurrencies.

Bitcoin is usually viewed primarily through the prism of the token price. However, this cryptocurrency still functions as a decentralized financial payment network that competes with Visa and Mastercard.

Currently, the Bitcoin network has surpassed Visa in terms of transactions, which is no small achievement considering the global reach of the payment network. This doesn't translate directly into price because users don't necessarily buy and hold, but rather use bitcoin as a service to transfer funds between parties.

Bitcoin's annual transaction volume has been growing continuously for over a decade. If this trend continues, in the next few years bitcoin may start to compete with the largest settlement systems.

Ethereum Holesky has not been launched

Ethereum's new testnet, Holesky, has not gone live after a technical issue halted its launch. Developers were scheduled to launch a new testnet on Friday, one year after The Merge, but the launch was canceled at the last minute due to technical issues.

Ethereum developers launch new testnets every few years to test updates and new solutions. However, delays in such situations are rare. This does not mean that development is reversed blockchaina, but it will be disappointing for users waiting for new features.

Holesky is intended to be a testnet for the next one hard fork (split), called Dencun, which will launch new features to help better scale the ethereum blockchain. However, the developers assured that the Holesky delay will not hold up the final launch of Dencun.

Sony will launch the Web3 blockchain

Well-known game and electronics manufacturer Sony announced that it is launching its own blockchain in cooperation with Startale Labs. With a strong presence in music, gaming, imaging and other consumer electronics, this is where the company intends to focus on Web3 use cases. We still don't know many details about the project's overall goals, but the company seems well-positioned to leverage Web3's development to generate innovative ideas. Startale Labs has already helped create blockchains with partners in the past. Both companies started cooperation in May. Sony has already introduced various Web3-related patents.