Vitalik Buterin Highlights Rollup Accessibility Amid Fee Decline

Transaction fees on Ethereum’s Layer 2 have plummeted to “almost zero,” marking a significant milestone for digital assets, according to blockchain co-founder Vitalik Buterin, reports Cointelegraph.

“From $0.5-10, we’ve moved to $0.01, practically zero. Optimism and Arbitrum — the two main layers of Ethereum — have reached this important milestone. […] Rollups are quickly becoming safer, they are finally accessible,” he commented.

According to the expert, high fees were previously one of the main hurdles in cryptocurrency adoption.

Buterin recalled paying over $800 for a single privacy-preserving transaction.

The Ethereum co-founder also noted significant improvements in transaction confirmation times following the transition to the Proof-of-Stake consensus algorithm in September 2022.

“Now I can calmly confirm my transactions in 5–15 seconds,” he added.

In conclusion, Buterin urged industry participants to develop practical solutions for the new wave of mass adoption, but not at the expense of decentralization.

Bull Market and the Fed

Former BitMEX CEO Arthur Hayes highlighted the potential for a decline in stocks and other risky assets a few days after the Federal Reserve’s Fed meeting on September 18. He based his prediction on the unwinding of yen carry trade positions due to the narrowing interest rate differential between the US and Japan.

“We saw what happened a few weeks ago when, over 14 trading days, the USD/JPY rate plummeted from 162 to 142, causing almost a mini-financial crash. We will see a repeat of this financial stress,” the expert noted.

The specialist described Ethereum as an “internet bond” with a 4% yield, which currently pales in comparison to US Treasury bills.

Hayes expressed confidence in the imminent start of a bull cycle for the second-largest cryptocurrency by market capitalization, once this yield disadvantage disappears with further easing of Fed policy.

In September, the former BitMEX CEO explained Bitcoin’s decline by a liquidity shortage.

Previously, Hayes called the first cryptocurrency a more reliable safe-haven asset than gold, due to the absence of national control. He predicted the market would exit its bearish sideways trend from September amid expectations of new stimulus measures in the US.