Adopted by Kraken in March 2022, the LN option allows users to withdraw BTC from the platform free of charge.īitcoin withdrawal fees and minimum withdrawal amounts on Kraken. The support manager also advised customers to consider using Lightning Network (LN) as an alternative. The minimum BTC withdrawal amount on LN also significantly differs from non-Lightning BTC, starting from as low as 0.00001 BTC, or less than $1. According to the data, Kraken charges 0.00035 BTC, or about $10, for a Bitcoin withdrawal, with a minimum amount of 0.0005 BTC, or $13. Kraken’s representative also referred to the company’s public list of cryptocurrency withdrawal fees and minimum withdrawal amounts. “This helps ensure withdrawals are processed on-chain in a timely manner,” the support manager noted. The United States-based exchange Kraken has increased Bitcoin withdrawal fees to match the current fees on-chain, the company’s customer support manager wrote on Reddit on May 10. The post Mixed Reactions as Reddit Rolls Out Third-Gen NFTs on Polygon appeared first on NFT Evening.Amid the ongoing spike in Bitcoin (BTC) transaction fees, some cryptocurrency exchanges have moved to adjust the cost of withdrawing BTC from their platforms.
Will the third-generation Reddit Avatars be a success? They drop on April 10 so we are going to find out one way or the other soon. The combined market cap of the collection is approximately $74m and the highest collection price floor sits at 1.05 ETH. The move was a hit, and the initial 40,000-piece collection sold out quickly. Reddit users had the opportunity to purchase avatars they could use to represent their digital identities on the website. Reddit partnered with Layer 2 blockchain Polygon to create a marketplace for digital collections in August 2022. Image Credit: The Verge What do we know about the Reddit NFTs? This volume, many reasoned, shows proof that there’s still plenty of demand for the Reddit Avatars.ĭon’t call them NFTs! Reddit Avatars are “digital collectibles”. In the last 90 days, the 60 different Reddit NFT collections saw a blistering 1,820 ETH volume. The first two generation drops both sold out quickly, and many fans of the iconic website were forced to buy on secondary. Additionally, they believe NFTs are still in a bear market and don’t see a reason to inflate the supply.įans of the decision point to the demand for previous generations as a good reason to move forward with the plan. These people fear that increasing the supply will dilute the value of collectors’ holdings. There are only 7.3m unique holders of the collection, and many naysayers feel like the project is already too big. It’s not surprising, therefore, that some people were upset by the introduction of the newest round of the platform’s digital collectibles, called “Reddit Avatars“.Ĭritics of the move pointed to the project’s 10.6m collection size as a potential problem. The Reddit community is known for disagreeing with one another. Image Credit: Reddit What happened with the newest Reddit NFTs? Reddit Avatars have stirred controversy since their release last year. What happened with the newest Reddit NFTs? Some community members applauded the release and others expressed frustrations with the news. Reddit announced its third-generation digital collectibles to mixed reviews this week.
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