Market Update 11.23.18 – Crypto Miners Selling Hardware by the Kilo
Market News
Crypto Miners Selling Hardware by the Kilo
Cryptocurrency miners in China are now selling off their mining equipment by weight rather than per unit cost thanks to the massive decline in the crypto market. Due to the decline in the cryptocurrency markets, the crypto mining sector has been hard hit too. This has led Chinese mining operators to sell their mining hardware at a loss.
Older models of mining hardware, such as the Antminer S7, the Antminer T9 and the Avalon A741 have reached their shutdown price. What this means is that the earnings from cryptocurrency mining are not enough to cover expenses such as operations costs and electricity.
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Swiss Railways Completes Tests for Blockchain System
The Swiss Federal Railways (SBB) has finished a Proof-of-Concept (PoC) test for a new Blockchain credentials management system for its employees working at its construction sites. This PoC test ran from May and was finally completed this month.
The new Blockchain project aims at improving the manual and paper-based processes that are currently being used. According to Danielle Pallecchi, the country’s national railways’ spokesperson, using the new Blockchain based system will create an audit-proof solution which will lead to more agile working environment.
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Cryptos to be Sold at Tobacco Shops in France
The Federation des Buralistes, the French tobacco federation has been given permission to sell Bitcoin at tobacco shops starting January 2019. Permissions were granted to the federation by the French ACPR (Prudential Supervision and Resolution Authority). The ACPR is an independent body what operates under the supervision of the country’s central bank.
The federation has entered into a deal with the crypto wallet provider KeplerK, according to which from early 2019, 4,000 small tobacco shops around the country will be selling Bitcoin vouchers. Customers will be able to exchange these vouchers for cryptocurrency on the wallet provider’s website once they open a wallet.
BTC vouchers will be available in €50, €100 and €250 denominations and will roll out to the rest of the tobacco outlets over a period of time.
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Total Market Cap: Nov 23
After making slight gains yesterday, the cryptocurrency market is once again in the red, with its capitalization down to $140.45 billion and trading volumes at $15.12 billion.
Bitcoin Price Analysis: Nov 23
Bitcoin’s price once again dropped, this time by 5.29% to trade at a current price of $4327.66. The digital asset’s worth is now $75.25 billion and trading volumes are now $5.07 billion.
Ethereum Price Analysis: Nov 23
Ethereum’s price fell another 7.46% to its current level of $125.48. Capitalization of the asset in the crypto market is now $12.97 billion and trading volumes are $2.05 billion.
State of the Top 10 Cryptocurrencies: Nov 23
After one day of slight gains, the cryptocurrency market is once again down. The entire top ten list is in the red in trading right now, with Bitcoin Cash leading the way with a 13.15% drop in its token price. Stellar follows at an 8.30% loss and Cardano is the third biggest loser with a drop of $7.69% in its token price.
- Bitcoin’s price is $4327.66, losing 5.29%. The asset is now worth $75.25 billion.
- Ripple’s price is $0.415971, losing 6.21%. The asset is now worth $16.77 billion.
- Ethereum’s price is $125.48, losing 7.46%. The asset is now worth $12.97 billion.
- Bitcoin Cash’s price is $201.79, losing 13.15%. The asset is now worth $3.52 billion.
- Stellar’s price is $0.183984, losing 8.30%. The asset is now worth $3.52 billion.
- EOS’s price is $3.61, losing 5.04%. The asset is now worth $3.27 billion.
- Litecoin’s price is $32.49, losing 6%. The asset is now worth $1.92 billion.
- Tether’s price is $0.984091, losing 0.35%. The asset is now worth $1.77 billion.
- Cardano’s price is $0.043649, losing 7.69%. The asset is now worth $1.13 billion.
- Monero’s price is $65.57, losing 5.59%. The asset is now worth $1.08 billion.