The network is facing competition from next-generation layer-1 blockchains and layer-2 networks from within its own ecosystem. The Ethereum transaction count is rising amid Ether’s (ETH) push toward the $5,000 milestone. However, increased competition is eating into network revenue and user mindshare. Ethereum’s daily average transaction count is hovering near all-time highs, at over 1.7 million transactions recorded on Tuesday, according to Nansen. For comparison, Ethereum layer-2 networks, Arbitrum and Base, recorded over 3.4 million transactions and 8.6 million transactions, respectively, and Aptos, a competing layer-1 blockchain, hosted 3.8 million transactions on Monday, according to The Tie. Read more
Google Play’s updated policy, effective Oct. 29, will require crypto wallet apps to meet specific licensing rules in certain countries. Update (Aug. 13, 9:33 pm UTC): This article has been updated to clarify that Google's upcoming requirements will not apply to non-custodial wallets. Google Play will require crypto wallet providers in over 15 jurisdictions, including the United States and the European Union, to be licensed and comply with “industry standards” under an updated policy. The revision does not affect non-custodial wallets. According to Google Play’s policy notice, the changes take effect Oct. 29. Developers in the US will need to register with local regulators as either a money services business or money transmitter. Those in the EU must register as a crypto-asset service provider (CASP). Read more
SOL price cracked the $200 barrier, but a rally to data suggests the factors needed for new highs are missing. Key takeaways: Solana’s onchain growth supports the current rally, but declining DEX market share signal cautious trader sentiment. SOL’s perpetual futures funding rate near neutral suggests limited bullish momentum. Read more