Crypto update, Ethereum and Florida

Ethereum (ETH) Average Gas Down 50% in Six Weeks

Ethereum (ETH), the second cryptocurrency, is often criticized for high transactional fees (gas). At the same time, on average, transactional fees are plunging for six weeks in a row.

Ethereum average gas fee lost 50% in less than two months. According to data shared by third-party trackers, Ethereum (ETH) gas, i.e., the dynamic commissions all Ether and ERC-20 transactions are charged with, have plunged since late October.

The volume of destroyed ethers as commissions exceeded the equivalent of $ 4.5 billion. Recall that ETH coins are burned with each transaction, and this has been happening since August 5, 2021.

Florida governor to allow businesses to pay state fees in cryptocurrency

📌 Florida Governor Ron DeSantis has unveiled a plan that would allow businesses in the state to pay state fees in cryptocurrency. The cryptocurrency-related proposals, the official has included in the state’s 2022 budget, Bloomberg reports.

📌 DeSantis also said that the state will launch pilot programs to explore the use of blockchain technology in Medicaid (state Medicaid program) payments and vehicle registration. The latter will be run with the participation of the Florida Department of Highway Safety and Motor Vehicles.

📌 The governor said crypto-enthusiasts are moving to South Florida, where officials and businesses have supported the blockchain industry. For example, the Miami Heat club’s basketball stadium has been renamed FTX Arena. FTX is a cryptocurrency exchange owned by billionaire Sam Bankman-Fried.