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Key points:
- The fall in encrypted prices forces Chinese miners to sell their equipment as rubbish
- Gibraltar Blockchain Exchange (GBX) protects the license of the DLT provider
- The encrypted mining industry has a calamity like Giga Watt files of Host crypto-mining for bankruptcy
- Tron is getting stronger as he closes on $ 2 million transactions a day
- BCH Fork ABC wins The Bitcoin Cash War of Nakamoto Consensus
- Daily Bitcoin transfer volume close to MasterCard Time
Among the important news this week, the fall in encrypted prices has scared everyone. Confidence is almost at an all-time low, but the most affected in this merger were the cryptographic miners. According to a report published in the International Business Times, some small and medium-sized miners in Xinjiang and Inner Mongolia of China sell their mining machines in the used market. Miners could not cover the cost of electricity by extracting currencies with their old machines. According to F2Pool, mining models include Antminer S7, T9 and Avalon A741 [mining machines] have already reached the "closing price" – the critical price of BTC below which miners must be closed due to lack of profitability.
Gibraltar Blockchain Exchange (GBX), a subsidiary of the Gibraltar Stock Exchange Group (GSX Group) which claims to aim to become an institutional-level token sales platform and world-leading cryptocurrency exchange, has announced that it has successfully distributed book of Gibraltar technology (DLT), the license of the Financial Services Commission (GFSC) of the nation, reported Finextra. With the new milestone reached, the Gibraltar Stock Exchange (GSX) became the first stock exchange ever to possess a regulated encrypted exchange.
GigaWatt Inc., which opened with much publicity and media attention last year in Douglas County to provide turnkey mining services and custom packages tailored to customer needs that included a full range of mining services from equipment sales, maintenance and repair to private maintenance blockchain, filed for bankruptcy. The company's promoters appeared in the Eastern District of Washington's federal court and filled their Chapter 11 documents that revealed that the company had less than $ 50,000 in assets and that its largest creditors owed approximately $ 70 million. The documents revealed that Giga Watt's board secretary and chief coordinator Andrey Kuzenny had signed court documents as the company failed to support a collapse of cryptocurrency market values and two lawsuits against fraud and fraud. Impropriety in its "initial offer of coins".
Among the Altcoins, in a recent tweet, Justin Sun, the project's founder, announced that Tron broke another record as he approached 2 million transactions a day. According to the image that is part of the tweet, Tron currently has 1911 nodes online and has reached a block height of 1424121. It also shows that the MainNet was able to reach a maximum of 748 transactions per second, which is incredible for a relatively early Maninet. At this speed, in a very short time Tron would take control of Ethereum
The two powerful Bitcoin Cash factions that came after the fork, the Bitcoins SV and ABC tried to get control of the network via hashwar. However, the ABC faction led by the investor crypto Roger Ver has now won the race called the Nakamoto Consensus, in which computers that support the Bitcoin Cash network have voted to go with ABC or SV, which offered several technical improvements to the network. Roger Ver, however, tweeted: "Nobody wins a war, some lose less than others."
Despite all the bad news, there is also good news. According to a recent report, Bitcoin is approaching day by day overtaking MasterCard in terms of daily transfers. A daily news that Trustnodes reported that, moving from the official numbers published by MasterCard in the last quarterly payment of Behemoth, Bitcoin is fast becoming a more serious rival than ever. Currently, the daily Bitcoin transaction accounts for about 73% of MasterCard's daily volume of $ 11 billion.
Bitcoin (BTC)
Bitcoin is dissolving and is doing it very quickly. Prices hit the highest point of USD 5,620.78 and the lowest point of USD 3,795.16 during the week. The most active trades, in volumes, with BTC on several pairs this week were, BitMex (38.06%), Binance (3.26%) and Bitfinex (2.91%)
Among the prominent voices, Llew Claasen, who is the executive director of the Bitcoin foundation, recently said that he expects Bitcoin to reach $ 40,000 by the end of this year. He also added that 90% of cryptocurrencies will actually fall
Ethereum (ETH)
The etheric-type BTC is hit hard and approaches the breakdown of USD 100 levels. Ethereum on the summit, this week was at 177.18 USD and touched the lows of 110.83 USD. The markets that were most active, in volumes, with ETH on various pairs this week were OKEx (5.18%), BitFinex (5.04%) and CoinBit (4.03%)
Among the news regarding Ethereum, it has been reported in the media that the developers of Ethereum are secretly planning a previous unrevealed update that could increase the capabilities of the technology. Developers could perform innovative maneuvers to stimulate its evolution roadmap.
Ripple (XRP)
The XRP is still in second place while Ethereum suffers a beating. At the top, this week XRP prices were $ 0.510127 and downward they traded USD 0.367354. The most active trades, in volumes, with XRP on several pairs this week were Bitbank (13.37%), ZBG (8.54%) and UpBit (7.61%)
For XRP this week, Cory Johnson, the chief strategist of the Ripple Labs market, recently said that the Bitcoin network "has real technological limitations" – which include "how many transactions can be done at the moment … let alone … no one even speaks " [anymore] around a minute. "
The Other Movers and Shakers
The other coins that entered the top and bottom this week according to the Coin Market Cap (accessible November 25 at 1:35 pm IST) were
Movers
- Veros – Shows an increase of 192.75%
- Bezop – Shows an increase of 96.41%
- Olive – shows an increase of 85.59%
Shakers
- Aphelion – Showing a decrease of 84.07%
- Alibabacoin – Showing a 72.55% loss
- VisionX – Showing a 72.14% loss
What do you think the feeling of the cryptic markets would be like next week? Let us know your opinions on the same
Summary
Item name
Price analysis of cryptocurrency for the week from November 19th to November 25th
Description
– The fall in encryption prices forces Chinese miners to sell their equipment as rubbish
– Gibraltar Blockchain Exchange (GBX) protects the license of the DLT provider
– The encrypted mining industry has a calamity like Giga Watt file hosting crypto-mining for bankruptcy
– Tron is getting stronger as it closes on $ 2 million transactions a day
– BCH Fork ABC wins The Bitcoin Cash War of Nakamoto Consensus
– Daily Bitcoin transfer volume close to MasterCard Time
Author
Nilesh Maurya
Publisher name
Coingape
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