Crypto News Roundup: ETH Miners May Earn Over $500,000 per Hour Soon + More From the 3rd Week of September 2020

Last week was really different. From the news that made us choke on our wine, to the news that made us proud of our continent. We heard it all. Ethereum miners, which way now? Teach us please 🥺. Uniswap did a thing for their users and 13,000 people have already benefitted 👀. Hmm DeFi isn’t playing with anybody. There are also less crypto scams in Africa than you probably think. Dash is making some moves that you may like. People are just mounting Bitcoin ATMs everywhere. 

Ethereum Miners May Pass $500,000 per Hour Soon as DeFi Transactions Explode

First of all, we need to catch our breath please 🤯. We already heard that Ethereum miners earned $500,000 per hour at the beginning of September. But new daily transactions show that they may pass that figure soon

It’s not news that decentralized finance is exploding. But one side effect is that Ethereum gas prices (transaction fees) have gone through the roof. While everyone is struggling with these transactions which can be as high as $100 per transaction, miners are smiling to the bank. 

Ethereum recently hit its highest number of daily transactions at 1,406,000. This rise in transactions combined with the heavy gas prices equals dollar signs for miners. 

13,000 DeFi Users Have Rushed to Grab Uniswap’s New Token

No time to waste time 😅. If you’ve been following the DeFi mania, then you probably know about Uniswap. Recently, they’ve been tangled in some drama with SUSHI. Because of this, they’ve listed UNI, their new token. 

Here’s the part we live for: Uniswap is offering its users 400 free tokens each. And get this, more than 13,000 people claimed their tokens in the first three hours. But who wouldn’t rush, when the value of those free tokens per user is $1,344 at the current price. 

The part we don’t live for: the rush slowed down the ETH network and amounted to $650,000 gas fees in three hours.

Illegal Activity Makes Up Only 2% of African Crypto Transactions 

A new study by Chainalysis shows that illegal activities make up only 2% of African crypto transactions. This is roughly $320 million of the $16 billion traded on the continent between July 2019 and June 2020. African traders are also less likely to fall for crypto scams according to the study. In fact, they are more likely to fall for scams in traditional currencies.

To compare, the figures for scams in Eastern Europe were six times higher than that of Africa. Scams accounted for 50% of all crypto transactions in that region. East Asian traders were also the most likely to fall for scams.

DASH is Transforming into a Decentralised Cloud Service

We all know Dash for its focus on utility payments. But now, the platform is adding a feature which allows people to store data on the network. Dash first hinted at this transformation in 2015.

Dash Platform will now add a Dash Drive and a decentralized API (DAPI). The platform’s clients will be able to integrate their applications with Dash. After, they’ll be able to send, store and request their application data from the blockchain.

There are Now More Than 10,000 Bitcoin ATMs Globally

There are now more than 10,000 Bitcoin ATMs globally. This number has risen by 87% from 5336 in September 2019. The best part is that these ATMs are distributed across 71 countries. So people can get Bitcoin and other altcoins on the go. Bitcoin Cash (BCH), Dash (DASH), Dogecoin (DOGE), Ether (ETH), Litecoin (LTC), Monero (XMR), Tether (USDT), Zcash (ZEC),and XRP.

Currently, the United States is in the lead with more than 7,800 Bitcoin ATMs. They are closely followed by Canada with 869. 

Quidax Africahttp://www.quidax.com
Quidax is an African focused cryptocurrency exchange that provides a simple platform for you to send, receive, store, buy and sell digital currencies. Our aim is to educate you about cryptocurrency. It should not be considered as financial advice. We recommend conducting your own research before deciding to buy, sell or hold any cryptocurrency.