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The continuous downward race in the global cryptography market has forced mining hardware suppliers to sell their machines at fire sales prices. Canaan Creative, the world's second largest producer of cryptocurrency mining platforms, has already sold all of the Avalon brand equipment at US $ 200 per unit. This is a drastic reduction from US $ 742 per unit for which the Chinese company previously sold the most powerful mining rig – AvalonMiner 921.
The collapse left the miners in a vulnerable position, especially those who process transactions in exchange for new cryptocurrency units as a reward. It has become useless for these businesses and individuals to run at least four models of Bitcoin mining machines because of the cost of gas.
Bitcoin (BTC) seems to end – not enough
While Bitcoin's pioneers and miners (BTCs) were true believers in paradigm shifting, believed they promised and were willing to make the necessary investments for future gains, the most recent buyers and miners seem to be running out of greed driven investors.
This greed was further aided by the future trade, which was introduced when the prices of Bitcoin (BTC) prospered and it seemed that the sun would perpetually increase at the horizon. With the price of BTC well above the cost of mining, they saw a clear opportunity for arbitrage.
The price of Bitcoin (BTC) has fallen sharply to the lowest level since 2017 in recent weeks. After trying to earn a week ago, the price has started to fall once again and today has reached a low intraday of $ 3733. The prevailing fear among traders is that the continued decline in price is making digital currencies useless.
Although the average cost of extracting Bitcoin (BTC) is not known, it is estimated to be over $ 4000 USD. As the argument is that the price drops, the level of profitability among miners also indicates that miners operate at a loss at current prices.
But one thing I think is that this is not the place where the story ends for Bitcoin (BTC), since the sun would rise again and when the tide will turn most miners driven by speculation and greed and investors looking for a quick turn of the wheel would have been shaking off.
Like all market funds, smart money is watching for the shift that does not happen too quickly; It is a simple case of combing straw from wheat.
Cardano (ADA) intends to distribute branches and debit cards
Cardano (ADA) has made good progress since its entry into the digital currency sphere in September 2017. The currency has been able to increase by 1.520% with a market capitalization of around $ 18 billion just four months after its launch.
Today Cardano (ADA) has a market capitalization of $ 1,021,010,967 USD with a trade volume of $ 23,104,937 USD in the last 24 hours.
As a decentralized and open source blockchain project, Cardano (ADA) aims to create a platform of intelligent contracts that will offer more advanced features than other previously developed protocols.
The Cardano project is rather unique in that it openly addresses the need for regulatory oversight while maintaining privacy and user protection through innovative software architecture as it is the first of its kind to be created by scientific philosophy and built on research. academic subject to peer review. Developed with the most rigorous commercial and academic software standards in the industry, Cardano's blockchain is scalable and flexible.
Although it has lost 44% of its value and market capitalization in the last month and 64% in the last, Cardano is still in the top 10 positions of coinmarketcap.
With Cardano (ADA) plans to distribute debit and debit cards throughout Japan, it is a project to keep an eye on.
BitTorrent owner, Tron (TRX) develops the custom token
The owner of BitTorrent, Tron (TRX) has informed the Tron community about the work done by the blockchain project to develop a personalized token that guides the BitTorrent network. Justin Sun said the Tron foundation would provide users with a clear incentive that would allow them to be part of the new project. This recent announcement implies that BitTorrent users who share the bandwidth file would be rewarded based on the bandwidth of their contribution.
As the Atlas project will be used to connect the P2P network of the BitTorrent and Tron blockchain network (TRX) through a series of BitTorrent protocol extensions.
Apart from this development, the crypto verse is also awaiting the release of the final code Odyssey 3.0 (Tron mainnet) for the exchangers that would facilitate the upgrading of portfolios and nodes.
MBAEX, the largest asset blockchain asset trading platform in Southeast Asia, will soon be listed on Tron. (TRX) currently holds $ 0.014474 USD with a trading volume of $ 75,802,720 in the last 24 hours.
Ethereum (ETH) does not need to be eliminated
Ethereun (ETH) seems to be on the receiving side of a vicious violence that has seen its second position in Ripple (XRP) lose and has yet to recover it. Bitcoin (BTC) as a pioneer has changed the way people viewed cryptocurrency when they realized they were able to use the blockchain to keep information anonymous and decentralized.
Ethereum (ETH) has arrived and has revolutionized the way people see blockchain.
It's nice to be at the forefront of the industry (esp technology), but you need to be looking for ways to stay relevant, because failure to do that would simply be relegated to the status of "it was".
It is clear that Ethereum (ETH) is struggling and desperately needs solutions. Vitalik's debates on face savings will not last long if the project does not solve its scalability problems.
ETH went green with an increase of 2.02% in the last 24 hours of trading.
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