🗞 Daily Crypto News, March, 10th 💰

avatar
(Edited)

  • Bitcoin Hashrate, Mining Difficulty Hit New Highs and Inefficient Miners ;
  • Silver Lining for Bitcoin Amid Global Market Panic, Altcoins Purge Estimated ;
  • Daily Users of Brave’s Blockchain Web Browser Pass 4 Million;
  • What the Oil Market Says About Bitcoin’s ‘Safe Haven’ Status ;
  • Robinhood Crypto and Stock Trading App Is Down Second Monday in a Row ;
  • 🗞 Daily Crypto Calendar, March, 10th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Hashrate, Mining Difficulty Hit New Highs and Inefficient Miners

As Bitcoin (BTC) mining difficulty and hashrate hit new highs, less efficient miners, hurt by the virus outbreak, new-generation rigs, and falling BTC prices, may be out of business.

Bitcoin mining difficulty, a measure that shows how hard it is to compete for mining rewards, has hit yet another record. According to the major Bitcoin mining pool BTC.com, it climbed to 16.55 T today, never being outside the 15 T range before.

This was a rise of 6.88%. It follows a 0.38% drop in mining difficulty two weeks ago, which was the first drop this year.

That said, it took BTC mining difficulty just half a year to climb from 10 T to 16 T, making validating new blocks harder.

image.png

🗞 Silver Lining for Bitcoin Amid Global Market Panic, Altcoins Purge Estimated

As global stock markets saw massive sell-offs overnight, cryptoassets also fell sharply, with both bitcoin (BTC) and ethereum (ETH) recording double-digit losses over this past weekend. However, some industry observers claim that crypto’s mainstream moment as a utility may finally be here, but early-stage projects with limited adoption might become ghostowns.

As of press time on Monday (08:45 UTC), bitcoin slightly recovered and is down by 8.6% to a price of USD 7,998, while ETH is down by 9.5% to USD 208. Many smaller altcoins from the top 10 are seeing even bigger losses of between 9% and 14%.

image.png

Noteworthy was also the massive drop in the oil prices as the markets opened on Monday morning, with the price of Brent oil falling by more than 25% from Friday’s close to Monday’s open. Gold, meanwhile, is nearly unchanged from the day before, trading at USD 1,670 per ounce.

image.png

🗞 Daily Users of Brave’s Blockchain Web Browser Pass 4 Million

The cryptocurrency-powered internet browser Brave seems to be gaining in popularity, surpassing four million daily users.

Brendan Eich, the co-founder and chief executive of Brave and former CEO of Mozilla, recently tweeted that Brave also has 12.2 million monthly users. As such, roughly 30% of Brave’s monthly users utilize the browser daily.

Brave has also seen a steady increase in the number of its publishers — with nearly 447,000 publishers currently participating in the Brave network.

🗞 What the Oil Market Says About Bitcoin’s ‘Safe Haven’ Status

Monday’s historic financial tumult reached beyond stocks, sinking commodities and even bitcoin markets.

“I don’t think any asset is safe right now – except cash, U.S. dollars,” said Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO of U.S.-based strategy firm Dragoman Ventures.

While bitcoin prices dropped nearly 10 percent over the weekend, Saudi Arabia slashed its export oil prices when Russia refused to support an Organization of the Petroleum Exporting Countries (OPEC) effort to reduce oil production.

Coronavirus quarantines mean fewer cars on the road, economic slowdown and less demand for oil, experts warn.

Matt Smith, director of commodity research at ClipperData described the current state as an “oversupplied” oil market where Saudi Arabia made a drastic move, harming everyone’s bottom line, in an effort to “to get Russia back to the negotiating table.”

🗞 Robinhood Crypto and Stock Trading App Is Down Second Monday in a Row

After experiencing a major outage last week, major stock and cryptocurrency trading app Robinhood is troubled again.

Robinhood encountered another technical outage on Monday, causing its platform to halt trading services, according to a March 9 tweet by Robinhood’s support team.

Robinhood partially fixes the outage after an hour of downtime

The firm announced earlier on the day:

“Trading is currently down on Robinhood and we’re investigating the issue. We’re focused on getting back up and running as soon as possible and we’ll update the status page with the latest.”

🗞 Daily Crypto News, March, 10th💰

  • Transcodium (TNS)

"Transcodium will be burning 20,000,000 TNS tokens starting from March 2020."

  • Bitpanda Ecosystem Token (BEST), Crypto.com Coin (CRO), General Event (CRYPTO), Gemini Dollar (GUSD), SwissBorg (CHSB), XRP (XRP)

CryptoCompare Summit in London.

  • Energi (NRG)

"We’re excited to announce that #Energi Gen 3 will be launching on March 10th - 12:00 PM UTC."

  • Waves (WAVES)

YouTube developer tutorial on "Waves Sponsored Transactions."

image.png

STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

image.png

Here is the current chart :

image.png

We are still in a drama between Witness and Tron but the postive thing of that fight is clearly all the buys of STEEM that we can see on each side to continue the fight in the rank of power up for each witness. I never saw back a STEEM outperforming like that the BTC and it is really a nice surprise. 0.23$ is the next resistance line. Let's see if we will be able to touch it while all the crypto are dropping.

image.png

Last Updates

image.png

You don't want to miss a Crypto news?

Follow me on Twitter or Facebook

Come try out a great blockchain game: Splinterlands

Come try out the new STEEM blockchain game: HolyBread

bitcoin steem cryptocurrency cryptolemon steemleo palnet ctp blog news thealliance
0
0
0.000
1 comments
avatar

Hi @vlemon!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.394 which ranks you at #1561 across all Steem accounts.
Your rank has improved 7 places in the last three days (old rank 1568).

In our last Algorithmic Curation Round, consisting of 77 contributions, your post is ranked at #39.

Evaluation of your UA score:
  • Some people are already following you, keep going!
  • The readers like your work!
  • Try to work on user engagement: the more people that interact with you via the comments, the higher your UA score!

Feel free to join our @steem-ua Discord server

0
0
0.000
Reply