⛽ The Merge is not going to reduce the gas fees: the Ethereum foundation 🤖 Redditor makes a telegram bot that can apparently predict crypto prices 🔥 Burn Token on Solana Phantom Wallet – getting rid of scammer NFTs for good 🤔 A passing thought…

GM, vEmpions! Our motto of the day is: "Strive for progress, not perfection!". And what could illustrate this better than the current state of the cryptocurrency industry? Check out what we have for you today:

⛽ The Merge is not going to reduce the gas fees: the Ethereum foundation 🤖 Redditor makes a telegram bot that can apparently predict crypto prices 🔥 Burn Token on Solana Phantom Wallet – getting rid of scammer NFTs for good 🤔 A passing thought…

The Merge is not going to reduce the gas fees: the Ethereum foundation

In just a few short weeks, the much-anticipated Ethereum proof-of-stake (PoS) upgrade will finally go live. According to the latest update from the Ethereum Foundation, The Merge will not improve fees or throughput for users - but that's not stopping people from getting excited about it.

After years of waiting, the moment is almost upon us. Around September 15, the Ethereum network will finally make the long-anticipated switch from proof-of-work (PoW) to proof-of-stake (PoS).

The Merge has been billed as a major upgrade that will improve the efficiency of the Ethereum network and reduce fees for users. But in a recent update, the Ethereum Foundation has clarified that The Merge will not actually reduce onchain fees.

This news may come as a disappointment to many who were hoping that The Merge would finally bring relief to the high fees plaguing the Ethereum network. But it's important to remember that The Merge is not about reducing fees - it's about improving the efficiency of the network.

Some people seem to think that The Merge will magically make gas fees disappear. Unfortunately, that's not how it works.

The fact is, gas fees are a product of network demand. And while The Merge will change some parameters that could theoretically impact network capacity and throughput, it won't do anything to directly reduce the amount of traffic on the Ethereum network.

So if you're looking for a break on gas fees, you're going to be disappointed. The Merge is not some magical solution to high fees - it's just a necessary step to keep the Ethereum network running smoothly in the future.

In the meantime, fees on the Ethereum network have actually been fairly low lately. In fact, they've been some of the lowest they've been all year. So if you're looking to save on fees, now is actually a great time to be using Ethereum.

Redditor makes a telegram bot that can apparently predict crypto prices

Redditor that goes by nickname xk4rimx has created a bot that can apparently predict cryptocurrency prices, much to the delight of investors and traders who are always looking for an edge in the market.

The bot, which is currently available to anyone on Telegram, is said to use a variety of technical indicators and data points to generate its predictions.

So far, it seems to be doing a pretty good job, with xk4rimx claiming that it has accurately called the bottom of the recent market crash and is now forecasting a bright future for cryptocurrencies.

Other bots might help you automate your trading, but this one is different – it purportedly has the ability to see into the future and tell you where a certain coin is heading and when.

Of course, whether or not the bot can actually deliver on its promises remains to be seen. But if it can even come close to living up to the hype, it could be a game changer for the cryptocurrency trading landscape.

Burn Token on Solana Phantom Wallet – getting rid of scammer NFTs for good

If you're sick and tired of all the spammy NFTs clogging up your Solana wallet, Phantom has just the solution for you.

With the new Burn Token feature, you can get rid of those pesky NFTs for good - and earn a tiny bit of Solana (SOL) in the process.

The so-called "free" NFTs will often end up costing you your hard-earned cryptocurrency if you're not careful, as usually the sender will prompt you to click a link in order to mint the NFT. However, if you go through with it, you'll find that your wallet has been drained of all its cryptocurrency. Alternatively, the link will ask you to input your seed phrase. Again, if you do this, the scammers will drain your wallet.

The NFT scam artists love Solana because of its low transaction fees, so they often airdrop supposedly free NFTs by the thousands. This results in a lot of people being scammed, as well as the blockchain getting congested.

Developers from the various projects tried to address that problem, but it turns out that those scammers are pretty crafty. So instead of wasting your time on trying to beat them, why not just get rid of the NFTs entirely?

With Burn Token, you can apparently do just that. Simply send your unwanted NFTs to the Burn Token address and they will be destroyed forever.

A passing thought…

Any of you wondering what happened to all those crypto commercials starring celebrities like Matt Damon, Tom Brady, and LeBron James? They've disappeared from TV screens in the US…

What a difference a year makes. Last June, crypto businesses were shelling out a whopping USD 3 million on TV ads. This July? A measly USD 36,000. Talk about a massive drop-off. It's clear that the once-explosive sector is now in full retreat when it comes to spending on television advertising. Why the sudden disappearance? It's likely due to the slump in the cryptocurrency industry in recent weeks. So it looks like the celebrity endorsements didn't do much to help the industry after all. We will see what the next big thing is, or maybe it is already here and we just don’t know…