Market Update 11.26.18 – Over 600k BTC Miners Shut Down in 2 Weeks
Market News
Over 600k BTC Miners Shut Down in 2 Weeks
According to Mao Shixing, the founder of the world’s third-biggest mining pool F2pool, between 600,000 and 800,000 Bitcoin (BTC) miners have shut down in the last two weeks due to the declines in token prices as well as hashrates across the BTC network.
In an interview, Shixing stated that his firm had taken into account the total drop in BTC’s hashrate as well as the average hashrate of older mining machines that are currently struggling to generate profits while calculating this number. According to data, Bitcoin’s hashrate has fallen 13% in the last two weeks.
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Coincheck Trading Wider Range of Assets
The Japanese cryptocurrency exchange that was the victim of one of the biggest hack attacks of this year, Coincheck has started trading in a wider range of digital assets from today. This announcement was made by Monex Group, the internet brokerage that bought out Coincheck this March. This move has come after months of remedial measures as well as massive security improvements being made to the exchange.
Now, Coincheck will also trade in Ripple (XRP) and Factom (FCT), which means that platform will now trade in all tradeable cryptos.
Find out more here.
Blockchain Could Speed up Nigerian Economy
According to Nigerian Presidential candidate Atiku Abubakar, the country’s economy could be speeded up with the implementation of Blockchain and cryptocurrency technology.
Abubakar, representing the People’s Democratic Party (PDP), stated that to be able to unlock the potential of the country’s new economy, he would promote the development of a comprehensive policy on cryptocurrencies as well as Blockchain technology through his party’s Get Nigeria Working Again policy. Abubakar also stated that creating proper regulations would provide clarity to the crypto industry.
Read more here.
Total Market Cap: Nov 26
The cryptocurrency market continued its plunge over the weekend, dropping to new lows for the year. However, today, the market is showing signs of recovering with most of the cryptocurrencies trading in the green. Trading volumes are up at $20.06 billion and the market capitalization is now $128.93 billion.
Bitcoin Price Analysis: Nov 26
Bitcoin is currently up by 6.95% to trade at a price of $3,965.83, still below the $4k mark. The cryptocurrency is now worth $68.98 billion and trading volumes are up at $6.73 billion.
Ethereum Price Analysis: Nov 26
Ethereum’s price is also up by 8.76% to trade at $114.32 a token. The altcoin’s worth in the crypto market is now $11.84 billion and it is currently trading at volumes of $2.37 billion.
State of the Top 10 Cryptocurrencies: Nov 26
After a disastrous one week, the cryptocurrency market has started the new week with most of the top ten tokens trading in the green. The biggest gains in trading today have been recorded by Ethereum, which has jumped 8.76%, followed by Ripple, which is up by 7.97%, and Litecoin, which has shown price gains of 7.86%. Tether is the only crypto in the top ten list which is trading down by 0.21%.
- Bitcoin’s trading at $3965.83, gaining 6.95%. The worth of the virtual currency is $68.98 billion.
- Ripple’s trading at $0.374481, gaining 7.97%. The worth of the virtual currency is $15.10 billion.
- Ethereum’s trading at $114.32, gaining 8.76%. The worth of the virtual currency is $11.84 billion.
- Bitcoin Cash’s trading at $180.74, gaining 2.55%. The worth of the virtual currency is $3.15 billion.
- EOS’s trading at $3.34, gaining 5.30%. The worth of the virtual currency is $3.02 billion.
- Stellar’s trading at $0.155704, gaining 6.09%. The worth of the virtual currency is $2.98 billion.
- Litecoin’s trading at $31.19, gaining 7.86%. The worth of the virtual currency is $1.84 billion.
- Tether’s trading at $0.981669, losing 0.21%. The worth of the virtual currency is $1.82 billion.
- Monero’s trading at $58.52, gaining 3.44%. The worth of the virtual currency is $971.26 million.
- Cardano’s trading at $0.037312, gaining 2.32%. The worth of the virtual currency is $967.38 million.