Crypto has now become a household term, as compared to 2009 when the first cryptocurrency (bitcoin) was launched and very few people were interested in it. But a decade and a couple of years later, it cannot be denied that crypto is now populat and it is here to stay. But for the sake of beginners who might ask, what is crypto, crypto is a shortened form of the word cryptocurrency and it refers to a digital currency with transactions that are verified and the records maintained by a decentralized system that uses cryptography, rather than a centralized authority.
According to Whale Alert, a total of 11,325 dormant Bitcoins have been activated after 7.7 years.
Recently, the Federal Reserve in America raised its benchmark interest rate by three-quarters of a percentage point which represents the biggest hike since 1994. The goal of the hike in the interest rate is to fight inflation, but how feasible is that? The hike has led to an increase in fuel prices, food, basic necessities and air travel. The bottom line is that inflation is getting serious, financial and stock markets are not doing well and the purchasing power of fiat currency is diminishing.
Transaction fees on the Ethereum network have declined considerably due to dwindling demand and cooling of crypto markets.
Gas prices on the Ethereum (ETH) network have been a bane to anyone using it over the past year or so. They have surged to astronomical highs on several occasions during the 2021 bull market.