Coinbase To Launch a Subscription Service With Zero Fees| Bitcoin News

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Bitcoin News:5th November 2021

Coinbase To Launch A Subscription Service With Zero Fees| Bitcoin News
  • Ethereum Miner Revenue Outpaces Bitcoin In 2021 [LINK]
  • There’s a New Addition in the Crypto Galaxy Named Dogelon Mars (ELON) [LINK]
  • Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin [LINK]
  • Coinbase Confirms It’s Launching a Subscription Service With Zero Fees [LINK]

Ethereum Miner Revenue Outpaces Bitcoin In 2021

In the year 2021, Ethereum has had an incredible run. Its price has risen to many all-time highs this year, making it one of the best digital assets to invest in. The project has moved towards a deflationary mechanism, producing scarcity in the asset by burning one-third of the fees generated on the network, thanks to major network upgrades like the London hard fork.

When the Chinese government began cracking down on crypto mining in the middle of the year, the ETH mining business felt the pressure as well. The crackdown had an impact on its mining revenue, just as it had on bitcoin’s. ETH, on the other hand, did not suffer as much as bitcoin as a result of this shift. As a result, the asset’s miners have experienced a fair return on their investment. The disparity in mining earnings between bitcoin and ethereum miners has become noticeable.

The results have also been influenced by the volatility of the two assets. Bitcoin mining is linked to a high level of volatility. ETH, on the other hand, has it beat as the most volatile asset. The volatility of ETH mining was 47 percent, compared to 28 percent for bitcoin. The revenue figures for ETH miners are heavily influenced by the volatility of daily revenues.

Ethereum Miner Revenue Outpaces Bitcoin In 2021
Ethereum Miner Revenue Outpaces Bitcoin In 2021

BTC mining generates an average daily revenue of $45 million. This value is $56 million for ETH. ETH also has higher statistics in parameters like average fee % of daily income and revenue correlation with fees.

Because Ethereum miners’ earnings are mostly based on transaction fees, the rate at which transactions are sent across the network has a significant impact on mining revenue. As a result, the variable fee structure of ETH might have a beneficial or negative impact on miners’ revenue returns. When fees rise, revenue returns for miners rise as well, and vice versa. Furthermore, as illustrated by the 0.55 percent fee correlation mentioned above, ETH miners typically have a brief window in which they can earn revenues.

This correlation has worked in ETH miners’ favour this year. Fees on the network have risen dramatically due to the growing popularity and adoption of decentralised finance and NFTs. Miners have benefited the most from this increase because they rely heavily on fee money. Despite the fee burn, the blockchain’s payouts for miners are up for the year.

Since the bull market ended in April, transaction fees on the bitcoin network have remained quite cheap when compared to Ethereum. For the year, ETH miner fees accounted for 53% of total fees. Meanwhile, transaction fees only accounted for 1% of overall bitcoin miner earnings.

In the Crypto Galaxy, there’s a Newcomer Called Dogelon Mars (ELON)

The cryptosphere has attracted enough participants that it was just a matter of time before a few crypto space cadets seized additional lands. Altcoins have recently received a lot of traction and have now ventured into space, specifically Mars, with Dogelon Mars (CCC: ELON-USD). It has been steadily increasing since it first entered the crypto market. According to Dogelon Mars, it is more than just a meme coin; it appears to be an absolute worldwide currency for the people.In today’s ever-expanding crypto marketplaces, investors are continually looking for ways to benefit from their investments. Dogelon Mars has made its presence felt at the opportune time, providing investors with endless opportunities in an industry that was supposed to be on the verge of collapse. It has been proven over time that it is one of the most profitable markets in today’s world. Dogelon Mars’ entry on the market proves that cryptocurrencies are here to stay and have a long shelf life.

In The Crypto Galaxy, There'S A Newcomer Called Dogelon Mars (Elon)
In the Crypto Galaxy, there’s a Newcomer Called Dogelon Mars (ELON)

Dogelon is built on a liquidity pool concept with a total supply of 1 quadrillion ELON, of which 50% was delivered to Ethereum (CCC: ETH-USD) founder Vitalik Buterin’s wallet, which is a common practise for dog-themed cryptocurrencies that have been causing a lot of buzz in recent markets. The remaining 50%, on the other hand, is locked away in an inaccessible liquidity pool. Dogelon does not have a presale that allows developers or early investors to purchase the currency before it is released to the general public.

Dogelon Mars began with a $100 investment, and those who got in early stood to make a significant profit. Investing in well-researched currencies or tokens, such as Dogelon, is usually lucrative because it provides great rewards. A few minor exchanges, like as Poloniex and 0x Protocol, offer a variety of ways to purchase Dogelon Mars. UniSwap, however, is the most popular exchange for the token (CCC: UNI-USD). So, what do you have to lose? Invest in Dogelon Mars, one of the most profitable cryptocurrencies available now.

Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin

Marathon Digital Holdings, a crypto mining firm situated in the United States, owns more than $460 million in Bitcoin (BTC), primarily through mining and acquisitions over the last year.

According to a report published on Tuesday, the mining company has been hoarding all Bitcoin earned by its activities — around 2,640 BTC — since its last sale in October 2020. Marathon Digital also purchased over 4,812 BTC in January, when the cryptocurrency’s price was under $35,000. The BTC price is $62,056 at the time of publication, giving the mining firm’s 7,453 BTC holdings a worth of $462 million.

Marathon Digital Stock Reaches 6-Year High As Company Hodls $460M Bitcoin
Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin

Despite worldwide supply chain challenges hurting the delivery of crypto mining equipment, the firm has continued to expand its mining activities. Marathon Digital announced that it had rented planes for part of its 42,381 ASIC miners, helping the company to create over 417 BTC in October. The majority of the miners are already in use at Compute North’s Montana plant, with another 12,331 rigs awaiting deployment in a Texas location.

Marathon Digital Holdings’ stock, which trades under the ticker MARA, also soared to new highs on Nov. 3, surpassing $63 for the first time since May 2015. At the time of publication, the crypto mining stock had plummeted to $61.36.Despite plans to ramp up with the deployment of more than 90,000 previously purchased miners, the mining company said in May that it expects to reach 70% carbon neutrality for its operations. Marathon Digital estimates that by 2023, the fleet of 133,000 miners will achieve a hash rate of around 13.3 EH/s.

Coinbase Confirms It’s Launching a Subscription Service With Zero Fees

Coinbase, the largest cryptocurrency exchange in the United States, has confirmed to Decrypt that it is developing a new subscription service.

The service was leaked earlier today, when certain Coinbase members were given early access to the beta version of the service—which will be dubbed Coinbase One—last night. Users shared images of the impending product on Twitter, claiming that it would offer zero-fee trading and prioritised phone support to traders.

One of the screenshots stated, “Enjoy $0 trading costs on unlimited trades as long as you’re a subscriber.” “A pricing differential may still be applicable.”
Coinbase confirmed to Decrypt that it is working on such a service, but that it will initially only be offered to a small number of consumers. The price of the subscription service has yet to be determined.

Coinbase Confirms It'S Launching A Subscription Service With Zero Fees
Coinbase Confirms It’s Launching a Subscription Service With Zero Fees

In an email, a company spokeswoman said, “Coinbase has begun testing a subscription offering for our customers.” “Customers in the test group will be able to purchase, sell, and convert digital currencies on the Coinbase platform without having to pay a transaction fee (spread fees still apply). We’re always interested in finding out more about how we may better serve our clients in various ways.”

“Right now we are still in early stages so everything about the future product experience will be shaped by the feedback we receive from our users,” the spokesperson said.

The beta version’s screenshot also revealed that the service would offer enhanced account security. “You may be eligible for a reimbursement of up to $1 million in losses if any monies in your Coinbase account are taken by someone you don’t know due to an account takeover,” read the screenshot.
based in San Francisco Coinbase is a cryptocurrency exchange that prides itself on its ease of use, despite receiving widespread criticism for its customer care. It’s also the first crypto exchange to become public, having been listed on the Nasdaq in April.

Read Yesterday’s news here.

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