Investing.com – It looks anything but rosy for,,,, & Co on Wednesday – you can even speak of a mild correction.
Bitcoin loses almost 3 percent of its value at a price of $ 47,895. This means that the most important crypto currency in terms of market capitalization is moving away from the magical 50,000 dollar mark.
For Ethereum and the Ether course, it is 4.5 percent down to $ 3,167, which means that the market capitalization is still more than $ 375 billion. According to the wallet investor, Ethereum will be able to hold above the $ 3,000 mark before the end of the year.
The Cardano, meanwhile, with the support around $ 2.70, because the ADA price loses a total of 5.55 percent at $ 2.7015.
For the Ripple and the Dogecoin, however, it looks even worse. The XRP price drops 6.64 percent to 1.1448 dollars, while the DOGE price drops 6.70 percent to 0.2854 dollars. You can find out why Ripple could soon face a major rally in
Bitcoin hashrate rises – Chinese miners are back
For the bitcoin miners in China, the last hour had struck some time ago. The Chinese government declared war on uncontrollable mining – a fight that miners in a totalitarian state inevitably had to lose.
At that point, around 65% of Bitcoin mining activity was taking place in China, according to Bitinfocharts. Under government pressure, mining rigs across the country were shut down and the Bitcoin hashrate collapsed by that same percentage.
China was obviously the first choice of miners, because in addition to the low electricity prices, the transport routes for cheap hardware were short.
On June 28, the hashrate hit its preliminary low of 52 EH / s. However, the latest data now shows that the hashrate increased to 152 EH / s on August 24th. This suggests that the miners have resumed operations.
So far, however, there is no verified information on where the miners have found a new home. What is certain is that the increasing hashrate also leads to an increase in the degree of difficulty, which means that the miners earn less money.
Based on the blockchain computing power, the level of difficulty is adjusted every 14 days.
One of the beneficiaries of the brief slump in Bitcoin hashrate was the US-based mining company Riot Blockchain (NASDAQ :). The company posted record sales in the second quarter as the difficulty level for mining BTC had also decreased.
Ethereum and Ether course benefit from NFT
The hype surrounding NFTs led Ethereum to stay above the psychologically important support of $ 3,000, while Bitcoin only briefly saw the territory above $ 50,000.
Even the payment service provider Visa (NYSE 🙂 is now active in the field of NFTs, because the CryptoPunk 7610 from Larva Labs was bought for 49.50 ETH (150,000 dollars).
CryptoPunks is one of the first NFT projects on the Ethereum blockchain. The project was developed by the two Canadian software developers Matt Hall and John Watkinson back in 2017.
Cuy Sheffield, Head of Crypto at Visa said:
“Buying a CryptoPunk is like jumping into deep water. But it is only the beginning of our commitment in this area.”
The fact that even well-known companies such as Visa are now jumping on the NFT bandwagon shows that there is still huge potential slumbering in this sector – a potential that can compete with Bitcoin for first place in the crypto universe in terms of market capitalization.
Whether Visa will succeed in making a direct profit from this NFT or whether it is just a well-calculated marketing gimmick – who knows?
Coinbase (NASDAQ 🙂 accounts hacked – poor customer support
Binance has been under fire in the past few days and weeks and suspicions of possible market manipulation have sparked at least two class action lawsuits. We reported about it in the article.
Now another large crypto exchange has hit Coinbase. However, the case reported by CNBC is not about price manipulation. Hacked accounts and poor customer support are far from being a good advertisement for a company with a market value of $ 65 billion.
CNBC listened to what Coinbase customers had to say on the matter. Tanja Vidovic is one of the damaged customers who did not receive any support from the cryptocurrency exchange – support she urgently needed.
According to her, almost $ 168,000 in cryptocurrencies (Bitcoin, Ethereum, Ripple & Co) disappeared from her account. As early as April, she received several security warnings that her password had been changed. All attempts to contact support were unsuccessful.
Other users reported that the only message they received from Coinbase about missing funds was an email stating that transactions on the blockchain cannot be reversed. In addition, it was pointed out that Coinbase insurance does not cover the compensation of individual hacked accounts.
Since 2016, the Federal Trade Commission and the Consumer Financial Protection Bureau have received over 11,000 complaints against Coinbase, which should only be the tip of the iceberg – the particularly serious cases.
From Marco Oehrl