Ethereum gas fees at record lows

Both bitcoin and Ethereum kept their new higher levels last week as the crypto market continued to show positive signs despite some obvious volatility.

Bitcoin started the week above the $ 23 mark and showed some volatility during the week, and fell below $ 000 on Thursday. However, he quickly regained his position. However, this morning it rose above $ 22.

Ethereum started last week around $ 1675, dropping below $ 1575 at the start of the week, but rose again to above $ 1725. This morning it is trading just below this level.

Ethereum gas fees at record lows

As the Ethereum network prepares for The Merge, gas charges drop to record lows. Network transaction fees, known as "gas" fees, are at their lowest level since 2020. This is really positive for the web.

Gas pricing has become one of the key issues for Ethereum in 2021. Fees were very high, averaging around $ 40 per transaction, leaving some analysts broke. However, declines in network interest brought those charges back to earth.

While it can be hard to see the benefits of falling cryptocurrency prices as The Merge gets closer, affordable fees can be a really good thing. In times of enormous network change, low entry barriers are crucial to attract new entrants.

Bitcoin is quietly competing with Ethereum

While there is a lot of emphasis on The Merge and the array of dApps and other protocols in the Ethereum blockchain, the growing Bitcoin Lightning network also has a lot to offer, according to Arcane Research report.

Lightning Network Bitcoin is a really interesting aspect of the world's largest cryptocurrency that is often forgotten. But the Arcane study shows that the number of online payments has doubled in a year and the value of payments has increased by 400 percent (in dollars).

The network has tempting opportunities to help bitcoin increase its global dominance. Arcane also found that network access had grown from around 100 to over 000 million in less than a year by March 80. This growth cannot be ignored in the future, even as the number of competing blockchains increases.

UK parliamentary group launches cryptocurrency investigation

The Parliamentary Cryptocurrency and Digital Asset Group (APPG) has launched an investigation into the UK cryptocurrency sector and wants to advise the government on the next steps for cryptocurrency in the UK.

The Act on Financial Services and Markets was recently introduced, containing several key laws relating specifically to cryptocurrencies and stablecoins. This is a good sign that a parliamentary group is getting involved in the sector and hopes to learn more about how it works and what its potential benefits are for the UK.

Crypto is at a critical juncture in the UK in terms of sector development. Positive, innovation-enhancing consumer and investor protection will help increase market confidence while keeping the UK at the center of technology advancement.