Worldwide spread: voluntary and obligatory adoption

Worldwide spread: voluntary and obligatory adoption

Tron and BitTorrent (again), crypto-related classes at best universities, Hong Kong and blockchain specialists migration, Venezuella banks and Petro, Bithumb and registration renewal, Bank of America and a patent claim

BTC

3,610 USD
1.38%

TRX

0.02688 USD
5.95%

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Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth

While the bitcoin hash rate has taken a downward shift during the latter half of last year, Zcash has been on a constant upward movement that could make it a crypto miners refuge. Miners Flocking to Zcash The reports of Bitcoin miners leaving the crypto mining scene has been doing the rounds since mid-2018 after the crash of 80 to 90 percent in cryptocurrency prices. Bitcoin is down about 82 percent from its all-time high at $20,000 to about $3,500. Around October, Bitcoin hash rate took a dip and only started upward descent in mid-December. According to Diar’s latest report, cryptocurrency miners are flocking to Zcash due its block reward halving period. “Cryptocurrency miners have found refuge in solving for Zcash with the block reward still two halving periods behind Bitcoin (Zcash follows the same controlled supply model with differing block times).” The privacy-focused cryptocurrency, Zcash is a code fork of Bitcoin protocol that uses  zero-knowledge proofs to “enable privacy-preserving transaction data.” It first came into existence in late October 2016. The hash rate of Zcash has been growing on a constant upward movement as can be seen in the 1-year chart above. “With 7200 ZECs up for grabs daily the networks mining hash rate has been able to sustain a 650% growth as other cryptocurrencies lose equipment in the face of the ongoing bear market and stiff competition.” Earlier this month, zooko Took to Twitter to share the ongoing developments in Zcash to share that “As expected, the GitHub thread about radically revamping Zcash mining is heating up. https://github.com/zcash/zcash/issues/3672 … It’s important because at today’s prices there is more than $400K/day of new Zcash issuance” The community is also working on Zcash blossom, a “dual-proof-of-work scheme, where one algorithm is backward compatible with current mining equipment, and another is designed to work well with GPUs on a temporary time scale.” Harmony mining will be affecting the miners as its goal is to make the Zcash ecosystem more resilient by “spreading issuance and political influence among distinct kinds of stakeholders.” The post Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth appeared first on Coingape.
CoinGape

Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene

Tron has been known to defy the market trend on multiple occasions and it was doing the same at the time of writing. The prices of Tron are up by 4.15% with a market cap of $1.74 billion while the 24-trade volume is at $248 million. Most of the trade volume for TRX comes from the exchange Upbit, a Korean exchange via the trading pair TRX/KRW. 1-hour Source: TradingView The one-hour chart for Tron shows an uptrend that extends from $0.0215 to $0.0237, while the downtrend extends from $0.0328 to $0.0264. TRX prices have moved away from the support at $0.0212 and towards its imminent resistance point at $0.02678. The subsequent resistance point can be seen at $0.0328. The Parabolic SAR indicator indicates a bearish move as the markers have spawned above the price candles. The MACD indicator has finished a quick bearish crossover and seems like it might undergo another crossover, but a bullish one, unlike the recent crossover. The Awesome Oscillator shows a decreasing momentum as the bars are reducing in size and the bars are transitioning from red to green bars. 1-day Source: TradingView The one-day chart shows a small uptrend that extends from $0.0132 to $0.0215 while the uptrend extends from $0.0287 to $0.0725. The support at $0.0120 is holding good even in the longer one-day time frame. The resistance line at $0.0268 was breached briefly as the price moved above it and has now come back down again. The Aroon indicator shows a crashing uptrend that has reached the zero-line, while the downtrend line has failed trying to come back up. The Chaikin Money Flow shows a crashed CMF line to an oversold zone. The money for TRX is flowing out of the market. The Relative Strength Index shows a slightly higher buying momentum as the RSI line has crossed above the 50-line. Conclusion The SAR, MACD, and AO indicators all indicate a bearish aura hanging over Tron in the one-hour chart. The one-day chart for TRX shows a sideways trend as indicated by Aroon, CMF, and RSI markets. The post Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene appeared first on AMBCrypto.
AMBCrypto

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