What happens in crypto space?
After the Halving Event, Bitcoin will take a break on Saturday. The reluctance of investors is illustrated by a 24-hour volume of around 40 billion USD. However, one cannot speak of a standstill in crypto space. We take a look at the most important developments.
High fees, low hash rate
Countless users complain about high transaction fees in the BTC network after the Halving Event. According to this, the fees reached a value of approx. 5 USD on Thursday. At the same time, the hash rate of the ecosystem fell by almost 30%. This makes the feared 51% attacks cheaper and the network loses stability. The community had debated the possible consequences of the halving for a long time in advance. Many miners are taking their computing power off the network. As a result, China could further expand its mining dominance. Even now, more than 66% of all computing power comes from the “Land of the Rising Sun”. Miners in Asia should be able to cope better with the halving of the coin rewards thanks to low equipment and electricity costs.
NBA star Spencer Dinwiddie collects BTC
Crowdfundig times differently: The NBA player Spencer Dinwiddie has announced that he wants to collect Bitcoins worth about 25 million USD on his GoFundMe site. In return, the donors can decide for which team the Guard will be on the floor after his time with the Brooklyn Nets. Should the amount not be reached, Dinwiddie would like to donate the collected amount. On his GoFundMe page, the basketball player says the following:
“I’m simply creating this GoFundMe as my commitment to my previous tweets. As of now 2625.8 BTC is roughly equivalent to $24,632,630 USD. If we hit the target then I will allow the fan base to determine my next team decision and sign a one year contract at that destination. If we do not hit the target goal then I will be donating 100% of this campaign to charity. Fan engagement comes in all shapes and sizes, lets have fun folks!“
Coinmarketcap ranks stock exchanges
On Coinmarketcap.com users have been able to view a stock market ranking for a few hours. The site lists categories such as Web Traffic Factor, Avg. Liquidity, Volume (24 h) and many other indicators. Binance takes first place ahead of Coinbase and BitMex. In total, the table contains 341 crypto trading places.
J.K. Rowling asks for help
The world famous Harry Potter author J.K. Rowling would like to learn more about Bitcoin. In a tweet she admitted, “I don’t understand Bitcoin. Please explain it to me.” It didn’t take long for celebrities like Elon Musk to show up and offer their explanations. The Tesla CEO added, “By the way, I still only own .25 BTC.”
Bitcoin sets the tone
The BTC Dominance Index is at 67% on Saturday. The resistance at 9400 USD has been causing the bulls problems for days. By isolating themselves from the traditional markets, investors are increasing their hopes of reaching the magical USD 10000 mark soon. On the other hand, it is becoming increasingly difficult for the Altcoins to set their own accents.