Blow to miners: Bitcoin to see largest difficulty adjustment since 2018 as hash rate rocketsBTC $9483 (+1%) • ETH $232 (-0.9%) • XRP $0.19 (+0.8%)
Bitcoin’s halving that took place in May struck a serious blow to miner’s profitability, causing many smaller operations to shut off their rigs due to the 50% block rewards reduction that came about as a result of this event. Naturally, BTC’s hash rate began sliding directly after the event took place – which was an anticipated byproduct of the halving. Some analysts had feared that the cryptocurrency’s miners could find themselves caught within a so-called “death spiral” due to mass capitulation, but a rapid rise in transaction fees helped slow the hash rate’s decline.
More news ⏬Ethereum’s Vitalik Buterin challenges forecast saying the halving may boost Bitcoin’s price, despite stock-to-flow critics
If you were to ask a Bitcoin investor what makes the cryptocurrency valuable, they would likely say something about the cryptocurrency’s block reward “halvings.” Every four years, the number of BTC issued per block gets cut in half, resulting in an effective 50 percent reduction in the inflation rate of the cryptocurrency. Thanks to our premium sponsors⭐️ Phemex - Phemex is a Singapore-based and fastest cryptocurrency and derivatives exchange. It supports six trading pairs with up to x100 leverage. ⭐️ Bitamp - Bitamp is an open-source, client-side, free Bitcoin wallet that allows you to send and receive Bitcoin securely on the blockchain. ⭐️ Switchere- Switchere is a safe, licensed & non-custodial crypto exchange where you can sell & buy crypto with credit card instantly. ⭐️ Cred - Cred is a global financial services platform serving customers in 183 countries. ⭐️ OKCoin - OKCoin is one of the world’s first and largest regulated crypto exchanges, with millions of users in more than 100 countries around the world. ⭐️ Paradox Group - Paradox is the Official Advertising Partners of CryptoSlate and specialises in Marketing and Blockchain Advertising. There are now over 200 stake pools on the Cardano (ADA) Shelley testnet
A week after the Cardano (ADA) Shelley friends and family testnet opened up to all operators, IOHK reported that the network count of stake pools has surpassed 200. U.S. bank JPMorgan: Bitcoin shows “strong” resilience even after massive price plunges, cryptocurrency is here to stay
JPMorgan Chase, one of the world’s largest banks with $2.6 trillion under management, acknowledged Bitcoin’s “staying” power earlier this week. Here’s why a top VC thinks Ethereum could rally over 3,000% in the next bull run
From its all-time high price just shy of $1,500, Ethereum down by just around 85 percent. There’s now 3.0M Bitcoin wallets holding over 0.1 BTC; Pointing to mass retail accumulation
Bitcoin’s bout of consolidation has caused investors to grow increasingly fearful that its recent multi-month uptrend is in peril. South Korean academics say Bitcoin a “risky but rewarding” investment even as financial markets turn into a casino
Global turmoil in financial markets is leading to some touting Bitcoin as a possible alternative investment, eleven years after the pioneer was developed. New Glassnode metric calculates profit/loss for “moved” Bitcoin, “Whales” seen stacking up on BTC
Onchain providers like Glassnode and Skew are known for providing institutional-level, sophisticated metrics to the everyday crypto trader. China report claims a hacked crypto-exchange is behind three abnormal multi-million Ethereum (ETH) fees
Since the past few days, certain, and rather strange, transactions are stirring up debate in the Ethereum community. Featured event
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