Investing.com – Following the recent rally in the cryptocurrency market, the signs of the times are likely to point to a correction – at least in the short term. ,,, and – they all suffered losses of between 1.8 percent and 7.9 percent on Tuesday.
In Asian trading, Bitcoin initially fell to its lowest level since August 8, at $ 44,230, but then the world’s most important crypto currency in terms of market capitalization recovered and gained a good $ 1,000 in the last nine hours of trading. At around 11:57 a.m.CET, a BTC changed hands for $ 45,365. On Saturday, the price of the cyber currency was over $ 48,000 for the first time since mid-May.
Despite the persistently high volatility, investors remain optimistic about cryptocurrencies.
“Compared to the bull markets in 2017 and 2018, the current movement looks more mature,” quoted CoinDesk as quoting Cynthia Wu, sales manager at the Singapore-based digital asset services company Matrixport. “The market environment has become much more institutionalized – today there are proprietary traders in crypto hedge funds, crypto offerings from forex brokers and institutions … trading at the institutional level.”
You can find out what else has been going on in the crypto market in the last few hours in the following article.
NVIDIA (NASDAQ 🙂 fails in battle against Ethereum miners
For years, gamers have had to dig deep into their pockets for graphics cards. The reason for this is the high demand from the mining scene. In order to keep gamers happy, graphics cards of the RTX 3000 series were provided with an algorithm in June that significantly reduces mining performance.
The graphics cards should become unattractive for miners and affordable again for gamers. Initially this worked as planned, but all the effort was not worth it.
The latest version of NBMiner v39.0 bypasses this limitation for Ethereum. Thus, 4K gaming with more than 60 FPS remains an expensive proposition.
Dogecoin full steam ahead
The Dogecoin is often referred to as a meme coin, as the project behind the Doge saw the light of day as such in 2014.
But now it has firmly established itself among the top 10 cryptos. With a market capitalization of $ 40 billion, it has positioned itself just behind commercial projects like Ripple and Cardano.
This triumphant advance has now led to the Dogecoin Foundation repositioning itself.
Since it was founded 7 years ago, Jens Wiechers has been more or less a lone fighter whose job it was to protect the Dogecoin brand. However, as his popularity grew, he was no longer able to cope with this task and so it was time to increase the manpower.
The foundation team was expanded to include some specialists from the crypto branch. The Ethereum founder Vitalik Buterin and Jared Birchall, who represents the interests of Elon Musk, are also there.
The aim is to increase the added value of the blockchain, develop use cases and support charitable projects.
“The Dogecoin Foundation has the future of the entire Dogecoin ecosystem in mind and will announce new projects in the coming weeks. These will enrich the current Core Wallet to enable faster integration and simpler APIs for economic, social and charitable projects that Want to use Dogecoin. We believe the success of Dogecoin is based on widespread global adoption and high utility value. We intend to focus on projects that will increase Dogecoin’s popularity. “
Fed member Kashkari is targeting cryptocurrencies again
The Minneapolis President Neel Kashkari was never a friend of Bitcoin, Ethereum, Ripple, Cardano, Dogecoin & Co.
On Tuesday, at the annual meeting of the Pacific NorthWest Economic Region, he found clear words:
“Five or six years ago I was more optimistic about cryptocurrencies and bitcoin.”
“But what I’ve seen so far is … 95% fraud, hype and a lot of ado about nothing.”
“Anyone can create their own bitcoin … even me … and I could call it Neelcoin.”
“So it’s no wonder there are thousands of these junk coins out there.”
“So far, I haven’t seen a use case for Bitcoin that goes beyond funding illegal activities like drugs and prostitution.”
by Marco Oehrl