Ethereum Gas Fee Continues to Drop, Now at 0.352 Gwei

May 9 The U.S. and Iran remain deadlocked over ceasefire terms and negotiations, The New York Times reported Thursday. While both sides say the month-long ceasefire agreement is still holding, multiple rounds of attacks between them have occurred in the past week—with no breakthrough in talks. The U.S. recently targeted two Iranian oil tankers bound for an Iranian port, the report noted. In response, Iran has continued blocking the Strait of Hormuz. The U.S. has put forward proposals including lifting port blockades, resuming navigation in the Strait of Hormuz, and extending the ceasefire by 30 days—but the core negotiation disagreement still centers on Iran’s nuclear restrictions. Separately, the U.K. announced it’s deploying a destroyer to the Middle East as a pre-deployment for future escort missions in the Strait of Hormuz. France, meanwhile, has already sent an aircraft carrier battle group to the Red Sea. Both nations are pushing to establish a “multinational joint

On May 9, OnchainLens data indicates that "BTC OG Whale Insider" figure Garrett Jin has deposited 108,169 ETH to Binance, with the transaction valued at roughly $250 million.

On May 9, Andre Cronje said in a post that the annualized yield for USDC on the Sonic Network hit 5.11%, while yields for USDT and ftUSD on Ethereum reached 5.27%. He emphasized the yield doesn’t depend on token incentives, subsidies, point systems, cyclical leverage, staking unlock periods, or exit queues—and it offers instant redemptions and liquidity. Cronje noted DeFi hasn’t hit its peak yet: “There’s still plenty of room for exploration and building in the on-chain space.”

**May 9th — At Consensus 2026, Trust Wallet CEO Felix Fan and Mesh CTO Arjun Mukherjee noted that AI agents are driving a restructuring of crypto wallet architecture, enabling AI to hold assets, conduct on-chain transactions and establish on-chain identities.** **Trust Wallet has launched its Agent Kit, letting AI agents autonomously execute transactions, transfers and other on-chain operations. The company is also advancing Ethereum Improvement Proposal (EIP) 8004 to provide AI agents with on-chain identity and credit scoring systems. Fan added that on the consumer side, the model still follows the “users hold the keys, incremental authorization” framework — with AI acting mainly as an on-chain operation assistant. For developers, agents get more autonomy to run operations.** **Mesh has rolled out Smart Funding technology, which automatically routes funds across chains, accounts and tokens to cut down Web3 complexity. Its CTO pointed out one core challenge for AI agents: the “co

On May 9, Bitcoin mining firm TeraWulf released its Q1 2026 financial report, showing a quarterly net loss that widened to $427 million—well above the $61.4 million posted in the same period last year. The report revealed total quarterly revenue of $34 million, with AI/high-performance computing (HPC) leasing revenue hitting $21 million (a 117% quarter-over-quarter jump, accounting for ~60% of total revenue). Bitcoin mining revenue, meanwhile, fell 50% year-over-year to roughly $13 million. TeraWulf noted its AI revenue stemmed primarily from leasing 60MW of computing power at its North American HPC campus Lake Mariner, currently occupied by Core42. The company is also partnering with Fluidstack and Google to advance additional AI infrastructure projects. Previously, TeraWulf announced a $9.5 billion, 25-year AI data center leasing agreement with Fluidstack, accelerating its shift from Bitcoin mining to AI infrastructure operations. As of quarter-end, the firm held approximate

**May 9** Conflict in Iran has disrupted oil shipments through the Persian Gulf, driving global oil inventories down at a record pace and eroding the buffer stockpiles meant to cushion supply shocks. The rapid drawdown is raising the risk of more extreme price spikes and supply shortages. With the Strait of Hormuz at risk of closing for two months, governments and industries worldwide are running out of options to handle the impact of losing over 1 billion barrels of supply. Even after the conflict ends, the market will remain vulnerable to future disruptions for longer, the data shows. Morgan Stanley estimates global oil inventories fell by an average of ~4.8 million barrels per day (bpd) between March 1 and April 25—far exceeding previous quarterly drawdown peaks in International Energy Agency (IEA) data. Nearly 60% of the drawdown came from crude oil, with the rest from refined products. Critically, the oil system requires maintaining a minimum inventory level. Natasha Ka