Ethereum upgrade to cut energy use by over 99%
Ethereum will soon see a much-anticipated upgrade that could result in more institutional investors investing in the network. The goal is to make Ethereum more scalable, safe, and sustainable. It would make its crypto (Ether) mining obsolete and decrease the enormous amount of energy necessary to create new currencies. As per reports, this upgrade can cut energy consumption by at least 99.95%.
Crypto prices today: Bitcoin, ETH jumps 5%
Bitcoin is currently trading at $46,967.71, a 5% increase over the previous day. Ethereum is up 5.2% over the last 24 hours to $3,317.42. Solana rose 6.29% to $108.76, while Cardano is trading higher by 3.4% at $1.18. Meanwhile, Polkadot (DOT) jumped 8% to $22.81. The global crypto market cap stands at $2.12 trillion, a 4.73% increase over the previous day.
African Digital Art Network launches Nandi NFT marketplace on Celo
African Digital Art Network, a global collective of Black digital artists, is taking its first steps into Web3 by launching the NFT marketplace Nandi. The new platform allows Black artists and creators to showcase their talent. It is also a place where they can experience the financial benefits of Web3 across the African diaspora.
Crypto for Ukraine provides a flow of war-related assistance
People around the world have donated millions of dollars directly to Ukraine’s war effort via cryptos such as Bitcoin. The Ukrainian government says it has taken in almost $67 million of its $200 million target as of Saturday (March 26). The country has spent ~$34 million of the funds received as of last week. It has converted about 80% to traditional currencies and used the remainder with merchants that already accept crypto.
Govt recovered Rs 95.86 crore from 11 crypto exchanges for GST evasion
The Centre has recovered a total of Rs 95.86 crore, including interest and penalty, from 11 crypto exchanges for evading Goods and Services Tax (GST). The biggest evasion was detected at Zanmai Labs Pvt. Ltd, which operates under the brand WazirX. The quantum of evasion was Rs 40.51 crore. Coin DCX came second on the list with evasion of Rs 15.70 crore.