The Bitcoin network experienced a major bottleneck on May 7, 2023, due to an overwhelming 500,000 unconfirmed transactions. Onchain fees have significantly decreased and are now below $5 as a result of the clearing of congestion, which was previously very high. Just over 300,000 transactions are still pending confirmation as of May 11, 2023, and 185 blocks must be mined to clear the backlog. At 342 exahashes per second (EH/s), the global hashrate is stable, and current predictions indicate that the difficulty could rise on May 18 (seven days from now). News Sorce

Over two trillion Pepe coins were acquired by three cryptocurrency “whales” for a total of more than $4 million. Currently, Pepe is worth $0.00000185, which is a decline of 56.97% from its all-time high price of $0.00000431. At a cost of 2.1 ETH ($4,410), SmartMoney purchased 4 trillion PEPE and made $1.71 million. He currently owns 700 billion PEPE worth $808,00 and sold some of it for $906,000. News Sorce

The total value locked (TVL) in liquid staking derivatives (LSDs) has risen by 441,110 Ether, amounting to $793 million. Lido Finance leads the market with 74.35% of the TVL, while Rocket Pool and Frax Ether have gained 34% to 42% in the last 30 days. With 622,633 ETH locked, Rocket Pool is closing in on Coinbase in terms of staked ETH, whereas Frax Ether only has 187,551 ETH locked. To surpass Coinbase’s staked ETH locked within the protocol, Rocket Pool’s deposits would have to increase by 84%. Sorce News

Following community acceptance, BitDAO recommends replacing BitDAO’s token (BIT) with a new governance token, Mantle. Governance and treasury management will remain unaltered, but BIT holders will have to convert their tokens to the new token. Mantle’s mainnet launch is scheduled in the following weeks. BitDAO provides token-conversion rules and ratios that are equally applicable to all tokenholders. It also intends to strengthen its tokenomics by hastening donations and remaining vesting schedules from the time of its introduction in 2021. The idea is out for voting until May 19, and it has received 100% approval from over 25 million BIT votes. News Sorce