Ethereum Daily Fees Drop to September Lows
The volume of daily transaction fees in the second-largest cryptocurrency network by market cap has dropped to September 2024 levels. In February, this figure fell below $1 million for the first time in five months, reaching $731,472. Similar minimum values were recorded from August 17 to September 8 last year, and before that - in November 2020.
The scaling strategy developed by Vitalik Buterin through L2 solutions has reduced the load on Ethereum and partially smoothed out sharp jumps in gas prices. However, a number of developers are concerned about the difficulties of interoperability and potential fragmentation of the ecosystem.
Even after the Dencun update, which improved scalability due to a new transaction type for storing large arrays of binary data (BLOB), user activity is increasingly shifting to L2. This, according to JPMorgan analysts, weakens the base layer of the network. Against the backdrop of these changes, competitors such as Solana, Tron, and Base continue to strengthen their positions.
BTC Mining Difficulty Reaches Record High
After another recalculation, Bitcoin mining difficulty increased by 5.61%, updating the record to 114.17 T. Two weeks ago, the indicator decreased for the first time since September 2024, which Luxor experts attribute to the cold snap in the United States. Due to rising electricity prices and miner failures, computing power temporarily decreased.
On February 7, according to Glassnode, the hashrate (seven-day moving average) peaked at 844.95 EH/s, but then dropped to 826 EH/s. Mining profitability is falling amid falling Bitcoin prices (-6% over the week) and lower transaction fees. CryptoQuant analysts note that the network's on-chain activity has reached a yearly minimum.
BNB Chain Launches BNB AI Hack
BNB Chain has launched the BNB AI Hack to integrate AI into the blockchain. Registration is open all the time, but applications can be closed at any time.
Participants can develop:
- Algorithms for on-chain data analysis and market forecasting.
- AI tools for business analytics and financial recommendations.
- Trading bots and AI agents for wallets.
- AI solutions for games, including NPCs, content, and economics.
- Decentralized verification and digital identity systems.
Winners will receive support from BNB Chain, including $50,000 for project development. There will also be challenges from partners with a prize pool of $526,000. For more details, visit the BNB Chain blog.
TON Network Launches LayerZero Integration
The Open Network (TON) has teamed up with the LayerZero protocol, enabling cross-chain transactions with Ethereum, Tron, Solana, and other blockchains, The Block reports. The partnership aims to address the problem of "limited liquidity" by seamlessly integrating with the largest crypto projects.
TON's key partners on the LayerZero infrastructure include Tether, Ethena, and the Stargate cross-chain bridge. According to TON representatives, developers have received all the tools to create decentralized applications with global reach.
Tether CEO: Satoshi's Bitcoin Wallets May Be Hacked
Tether CEO Paolo Ardoino predicted that lost Bitcoin, including Satoshi Nakamoto's ~1 million BTC, could be hacked and returned to circulation. In his opinion, quantum computing will become a real threat only in the distant future. By that time, owners of active wallets will have time to transfer funds to quantum-resistant addresses.
Billionaire and founder of Social Capital Chamath Palihapitiya expressed a similar point of view, noting that the mass adoption of quantum technologies is still far away. Pierre-Luc Dallaire-Demers from the University of Calgary believes that Bitcoin wallets will remain out of the risk zone for the next five years.
British Man to Buy Landfill in Hope of Finding 7,500 BTC
The UK authorities intend to mothball a landfill in Newport, where a hard drive with 7,500 BTC (≈$738 million) was found in 2013. Its owner, James Howells, is seeking to buy part of the territory for searches. The landfill, which has been operating since the early 2000s, will close in 2025–2026. A solar power plant will be built in its place to power EV garbage trucks.
In December 2024, Howells filed a lawsuit, demanding either access to the search or compensation of £495 million. The court rejected it in January 2025, considering that the offer to transfer 10% of the find to local residents was a "bribe" to officials.
Over 12 years, the bitcoin enthusiast tried all methods of persuading the authorities. He proposed using AI and Boston Dynamics robot dogs for the search, but was refused. Now he plans to buy the site after the landfill closes and has secured the support of a hedge fund. He is also considering launching a crypto project with an NFT or utility token, counting on the support of the community.
