On August 4, Arbitrum One, the layer two (L2) Ethereum scaling resolution, introduced the protocol will implement a big improve referred to as Nitro in 25 days. The extremely anticipated Nitro migration will happen on August 31, precisely one yr after Offchain Labs, the Arbitrum undertaking maintainers, launched the Arbitrum One mainnet. The Arbitrum staff says that builders want to arrange contracts and customers ought to get ready for quicker transactions and decrease charges.
Two days in the past, the official Arbitrum One Twitter web page told its 275,200 social media followers that Arbitrum might be “migrating to Nitro on August thirty first.” Arbitrum launched final yr on August 31, because the L2 Ethereum scaling resolution leverages optimistic transaction rollups which might be transmitted by way of the Arbitrum One sidechain and Ethereum mainnet. The scaling makes ethereum (ETH) transactions quicker and cheaper than transacting onchain by way of ETH’s layer one (L1). For example, it prices roughly 9-10 gwei or between $0.32 to $0.36 to transact onchain on the Ethereum community on the time of writing, in accordance with etherscan.io’s fuel tracker
Etherscan.io metrics additional present that sending an ERC20 token like tether (USDT) will value between $0.83 to $0.93 per transaction. On the identical day on August 6, 2022, statistics from l2fees.data present that common ethereum transactions utilizing Arbitrum are estimated to value roughly $0.08. Swapping a token by way of Arbitrum is estimated to value round $0.12. Arbitrum is the third least expensive L2 protocol as we speak because the L2s Loopring and Metis Community have cheaper charges to ship ETH. Nevertheless, as a way to swap a token by way of Loopring, it’s 258% costlier than Arbitrum at $0.43. Whereas Metis Community is half the value of the present Arbitrum token swap value as we speak at $0.06.
With Nitro, each charges and switch throughput are about to get an entire lot higher, in accordance with the introductory Nitro weblog put up, Offchain Labs printed on April 6. “Arbitrum Nitro is essentially the most superior rollup stack ever constructed, and it allows massively larger throughput and decrease charges,” the Nitro abstract explains. The most recent Arbitrum Nitro weblog put up, printed two days in the past, says the improve will add:
The Offchain Labs’ Nitro weblog put up additional explains that the staff accomplished a profitable implementation of Nitro on the Arbitrum Rinkeby testnet. Now’s the time for builders to get absolutely ready because the migration is barely 25 days away, the Arbitrum staff has pressured.
“Builders, now could be the time to make sure your contracts and front-ends are prepared for the migration, making ready any crucial modifications and testing as a lot as doable,” the Arbitrum growth staff’s weblog put up insists. “We strongly suggest deploying on an Arbitrum testnet should you haven’t already executed so, with Arbitrum Goerli as our advisable, long-term choice.”
What do you consider the upcoming Arbitrum Nitro improve slated for August 31? Tell us your ideas about this topic within the feedback part under.
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Cryptocurrency News & Live Updates
Synopsis
Cardano’s price has increased for two consecutive days, reaching $0.60, driven by a significant development in its Bitcoin integration efforts. However, the coin’s price action suggests a potentially bearish pattern ahead.
Cardano (ADA) has seen a notable price increase, rising over 17% to $0.60, largely due to the first on-chain transaction proving Bitcoin’s state on its network, marking the start of a Cardano-Bitcoin bridge. Despite this bullish narrative, Cardano faces challenges, including a relatively inactive ecosystem and low total value locked in DeFi. Meanwhile, Dogwifhat (WIF) has also experienced a price surge, rising 43% to $0.92, with increased whale accumulation indicating potential for further gains. The token is forming a cup-and-handle pattern, suggesting a projected breakout target of $2.37. In regulatory news, concerns persist regarding stablecoin frameworks in the EU and Switzerland, with calls for clearer guidelines to support industry growth. Additionally, Fitch predicts the U.S. deficit will exceed 7% of GDP next year, highlighting broader economic challenges. Lastly, Amber International raised $25.5 million to expand its Crypto Ecosystem Reserve, reflecting a trend among crypto firms to bolster their balance sheets amid cautious funding cycles.
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Cardano’s price has increased for two consecutive days, reaching $0.60, driven by a significant development in its Bitcoin integration efforts. However, the coin’s price action suggests a potentially bearish pattern ahead.
Dogwifhat (WIF) token has seen a 43% increase, reaching around $0.92, driven by whale accumulation and bullish market indicators, suggesting further growth ahead.
Peter Märkl of Bitcoin Suisse highlights ongoing regulatory ambiguities for stablecoins in the EU and Switzerland, stressing the need for clearer frameworks under MiCA and addressing challenges like KYC requirements.
Fitch’s Richard Francis forecasts that the U.S. government deficit will surpass 7% of GDP next year, with the debt ratio nearing 120% of GDP by 2026, despite anticipated tax cuts.
Amber International Holding has raised $25.5 million to enhance its $100 million Crypto Ecosystem Reserve, aimed at supporting blockchain networks and product development.
As of July 3, 2025, Bitcoin has reached the 110,000 USDT mark, reflecting a modest 0.80% increase over the past 24 hours.
The IMF warns that President Trump’s proposed tax legislation may obstruct efforts to lower fiscal deficits and debt levels, potentially increasing the deficit by $3.3 trillion.
U.S. Treasury Secretary Besant predicts that numerous trade agreements will be finalized by July 9, impacting around 100 countries with at least a 10% reciprocal tariff.
Ondo Finance, in partnership with Pantera Capital, is initiating a $250 million fund to invest in projects focused on real-world asset tokenization.
Erebor, a new crypto bank backed by notable figures, aims to fill the financial void left by Silicon Valley Bank’s collapse by focusing on stablecoin transactions and services for tech companies.
ETH rose 0.55% to $2,584.90 following strong U.S. jobs data, which indicated labor market resilience and pushed the S&P 500 and Nasdaq to record highs.
Bitcoin’s market dominance has decreased slightly, now at 65%, as the U.S. jobs report is set to be released today, with expectations of a modest increase in nonfarm payrolls and a rise in unemployment.
OpenAI has denied any connection to Robinhood’s stock tokens, emphasizing that these tokens do not represent actual equity and warning users to exercise caution.
The IMF has turned down Pakistan’s request for subsidized electricity for crypto mining, despite plans to allocate 2,000 megawatts of surplus power to the sector.
The SEC has temporarily paused the launch of Grayscale’s Digital Large Cap Fund (GDLC) ETF for commissioner review, citing the need for standard-setting rather than political reasons.
Tether has minted an additional 1 billion USDT on the Ethereum network, as reported by Whale Alert, to manage liquidity and meet market demand.
Despite no crypto provisions in Trump’s budget, the liquidity boost may positively impact crypto assets.
Binance has launched two key upgrades to its Pay Send service, introducing features that allow users to send cryptocurrencies via phone contacts and on-chain transactions, enhancing speed, security, and convenience.
Analyst Turner from ING emphasizes the importance of the upcoming U.S. non-farm employment report in assessing the dollar’s downward trend, with potential implications for interest rates.
As of July 3, 2025, Bitcoin is trading at 108,959.99 USDT, reflecting a modest 1.55% increase over the past 24 hours, according to Binance Market Data.
As of July 3, 2025, BNB is trading at 659.69 USDT, reflecting a modest 0.46% increase over the past 24 hours.
The CME’s FedWatch tool shows a 76.7% chance that the Federal Reserve will not alter interest rates in July, with a 23.3% possibility of a 25 basis point cut.
YZi Labs has announced its participation in Digital Asset’s $135 million Series E funding round, joining major financial institutions to support the growth of the Canton Network, which facilitates on-chain asset tokenization for regulated institutions.
Despite initial excitement from President Trump’s directive to establish a Bitcoin reserve, legislative hurdles and a lack of public plans have stalled progress.
The Open Platform has reached a $1 billion valuation after securing $28.5 million in funding, marking a significant step for the TON ecosystem in integrating crypto with Telegram’s vast user base.
Beijing North Fonda has formed a strategic alliance with Guofu Quantum Innovation Co., Ltd., focusing on virtual assets and digital currency to enhance their global fintech presence.
Analysts report that the dollar has experienced its worst start to a year since 1973, with a significant decline in value against other currencies amid waning confidence in U.S. policies.
A class-action lawsuit has been filed against Strategy and its executives, including Michael Saylor, over a reported $5.9 billion loss in Bitcoin holdings due to new accounting rules.
Pepe Coin (PEPE) surged to $0.0000107, driven by whale accumulation and a broader crypto market rally, with large holders increasing their stakes by 5% over the past month.
U.S. Treasury Secretary Besent has downplayed worries regarding the dollar’s recent depreciation, asserting that its value is not tied to the strong dollar policy, which focuses on long-term measures to maintain its global reserve status.
Despite a decrease in initial jobless claims, U.S. continuing unemployment claims have risen to 1.964 million, the highest since November 2021, with significant contributions from the Deep Tristate area.
Nano Labs Ltd has acquired 74,315 BNB in an OTC deal, totaling around $50 million, raising its cryptocurrency reserves to approximately $160 million.
Tether has partnered with Adecoagro to explore renewable energy Bitcoin mining in Brazil, utilizing surplus energy from Adecoagro’s facilities.
On July 3, the U.S. House of Representatives voted to approve President Trump’s major tax reduction and spending bill, known as the ‘Big and Beautiful’ bill, with all Democrats and two Republicans opposing it.
Senator Cynthia Lummis has introduced a standalone cryptocurrency tax bill to reform the U.S. tax code for digital assets, including a $300 transaction threshold and tax parity with traditional financial assets.
Ripple Labs’ application for a U.S. banking license has sparked considerable speculation regarding XRP’s price, with analysts observing bullish momentum and potential resistance levels.
Sui (SUI) has reached around $3 following a week-long rally driven by Lion Group’s $600 million crypto treasury plan, marking a 15% increase over the past week.
Bo Hines, Executive Director of Trump’s Digital Asset Advisory Committee, predicts that stablecoin legislation could drive the cryptocurrency market’s growth to between $15 trillion and $20 trillion.
Nano Labs has initiated its strategy to acquire up to $1B in BNB by purchasing 74,315 tokens for $50 million in an OTC deal, signaling a shift in its business model amid declining hardware revenues.
Binance has rolled out two major upgrades to its Pay Send service, introducing features that improve the speed, security, and convenience of cryptocurrency transfers.
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