Connect with us

Blockchain

Daily Income Of ETH Miners Soars By 60% In A Month: Report

Avatar

Published

on

ADVERTISEMENT

The daily income of ETH miners has soared by 60% in a month according to the data by the Ethereum mining pool, Sparkpool. In our latest ETH news, we take a closer look at the report.

The surge in daily profit from the Ethereum mining surge surpassed ETH’s price jump of more than 40% over the same time frame as the profitability increase came thanks to the soaring transaction fees on the network as well as the really slow growth in competition from other miners.

ETH mining

Sparkpool’s data shows that the daily income of ETH miners was around $1.85 per 100 mega hashes per second on June 27. In a month period of time, this level increased by 60% and reached a high of $3.27 and this metric has since dropped back to around $3. During the same period of time, Ether’s price went up by nearly 40% from $229 to $327 at the time of writing which is the highest price point for more than a year.

ADVERTISEMENT

The transaction fees on the network which represent the miner’s daily revenue, reached a two year high as the hype around the decentralized finance brought an increase in network activities. However, the total computing power competing on the second-largest blockchain network by market cap remained standing at 190 petahashes per second according to Etherscan. The data from Bitinfocharts indicates that the daily mining revenue on ETH remained below the $2 per 100 MH/s during the first quarter of the year and decreased to $1 per 100 MH/s after the March crypto market crash. In the four months since the daily mining revenue almost tripled.

Some of the mining equipment such as the Innosilicon A10 Pro with a computing power of 485 mega hashes per second, generates $12.92 in daily revenue at Ethereum’s current price and mining difficulty. With the electricity cost of $0.03 per kilowatt, the A10 Pro machine can bring a net profit of about $12. Profit at that level surpasses some top-of-the-line BTC miners by more than 100% but Bitcoin’s price jumped as well to $10,000 over the weekend which is a first-time movement since June.

bitminer

The sudden price increase came weeks after the low price volatility was keeping the price stuck between $9000 and $9500. However, Bitcoin’s mining difficulty is still around its all-time even the most efficient BTC miners such as WhatsMiner, MicroBTC, and Bitmain’s AntMiner S19 pro that generate daily revenues of $9 per unit.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/ethereum-news/daily-income-of-eth-miners-soars-by-60-in-a-month-report/

Blockchain

Billionaire Mike Novogratz Builds Bitcoin Position on Prescience

The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally. Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to […]

The post Billionaire Mike Novogratz Builds Bitcoin Position on Prescience appeared first on BeInCrypto.

Avatar

Published

on

The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally.

Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to BeInCrypto that he added to his bitcoin position on Oct. 19, a decision made on prescience leading into a rally on Oct. 20.

And it’s what he had to say about where the BTC price is headed that could give investors a chance to capitalize on the momentum.

Novogratz expects that once bitcoin takes out $12K, not only does it move higher from there but it will do so quickly. He points to the fundamentals, including “too much demand from new participants,” as the catalyst. Novogratz told BeInCrypto,

Advertisement

Continue reading below

Bitcoin’s Rough Resistance

The $12K level is an important threshold for several reasons. Many consider it tough resistance and the BTC price has not been able to overcome it of late. Recent sessions have seen it remain stuck between the $10,000 and $11,000 area.

Once bitcoin manages to reattain this milestone, the last time of which was August 2020, pundits argue it could be off to the races again.

Bitcoin bull Ivan on Tech, who posts daily videos on YouTube where he has more than 260,000 subscribers, has been giving the play-by-play. He pointed out on Oct. 20 that the bitcoin price actually went straight to $12,000 but got rejected there, which according to him is “all according to plan.”

Once the bitcoin price successfully breaks this level, Ivan on Tech is expecting big things, exclaiming in a tweet,

“Bitcoin will break $20,000 like a massive BOSS.”

The entire crypto community is likely glued to their screens to see if history repeats and the bitcoin price rallies to the moon.

Source: https://beincrypto.com/billionaire-mike-novogratz-builds-bitcoin-position-on-prescience/

Continue Reading

Blockchain

Latvian Financial Watchdog Issues Crypto Fraud Warnings

Latvia’s  Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities. The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices. In an official statement published by the FCMC, investors were urged to stay vigilant against […]

The post Latvian Financial Watchdog Issues Crypto Fraud Warnings appeared first on BeInCrypto.

Avatar

Published

on

Latvia’s  Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities.

The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices.

In an official statement published by the FCMC, investors were urged to stay vigilant against the growing number of investment opportunities that target individuals across different channels.

According to the FCMC, cryptocurrencies, and associated platforms within Latvia function with a lower degree of regulation when compared to many other financial markets. It claims this makes attacks more prevalent in the country.

The regulators also mentioned that these attacks might be difficult to detect at first because they oftentimes use “the names and images of renowned companies.”

Advertisement

Continue reading below

Uptick in Fraud

Many online advertisements used for fraud purposes lead unsuspecting victims to fancy websites that give them a false sense of security.

The FCMC noted that online fraudsters are constantly on the watch for new ways to extort money from potential victims and that they will often contact investors via email or other popular social media platforms, and even sometimes by phone.

The scammers normally try to mislead investors into buying currencies that don’t exist, refuse withdrawals, or demand that they pay exorbitant amounts for transfers of funds.

The FCMC has welcomed residents to check with the watchdog in order to verify the legitimacy of any platforms or services before actually investing any money. The regulator also listed verified financial service providers on its website.

Source: https://beincrypto.com/latvian-financial-watchdog-issues-crypto-fraud-warnings/

Continue Reading

Blockchain

Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis

The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news. The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR […]

Avatar

Published

on

ADVERTISEMENT

The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news.

The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR ranked 14th by market cap and trades at $127, increasing by 5% in the day, trimming the weekly losses to less than 4%. At the same time, other major coins from the top 15 which are less than 3% in a day. XMR increased today after a slight reaction to the expected update which was launched on Saturday.

Initially announced in August 2020, Monero’s latest Oxygen Orion update brings some more important improvements to the network at a time when the regulators are getting increasingly worried about the privacy coins. The latest update brings the so-called compact linkable spontaneous anonymous group feature.

coinpaprika
Source coinpaprika.com

As per the Monero blog, the CLSAG update allowed smaller and tighter transactions and will also reduce the transaction size by about 25%. This will also improve the transaction times by 10% and will bolster privacy with Dandelion ++ which is a feature that aims to protect users’ IP addresses. The latest update release comes not too long after another speed and security-centric upgrade named Nitrogen Nebula was launched which was one of the many upgrades that went live in the past few months.

ADVERTISEMENT

Right before the release, Monero enjoyed an increase in price and moved up by about 35% in a month and 125% in a year while the US Department of Justice released a new report that explains the risks of end-to-end encryption along with the US Internal Revenue Service which declared war on privacy coins, offering a bounty of about $625,000 to crack Monero’s privacy code.

Monero approaches key resistance, xmr, privacy

Now, Monero scales up to 20 times while compared to the other upgrades, there will be no change to Monero’s mining algorithm was frequently modified to disadvantage the ASIC miners. The project’s upgrade from 2019 included RandomX which means that the network no longer needs changing to its mining algorithm for ASIC resistance. Though not directly related to the upgrade the development of the community project is progressing. The community developers have been working on the atomic swap which allows users to exchange Monero for other coins. The proposal for the project has reached full funding as of late.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/monero-news/upgraded-xmr-becomes-best-performer-among-top-15-coins-analysis/

Continue Reading
Energy1 hour ago

American Electric Power Receives First NAPPC Pollinator Electric Power Award

Energy2 hours ago

Garrett Announces Acquisition

Energy2 hours ago

NASA, Department of Energy Expand on More Than 50 Years of Collaboration

Energy2 hours ago

GivePower Foundation Receives $1 Million Donation from Silicon Valley Technology Veteran Chris Larsen

Energy2 hours ago

AEP Increases Quarterly Dividend To 74 Cents A Share

AR/VR3 hours ago

From Environmental to Social: XR Tackles Global Issues

AR/VR4 hours ago

New Japanese PlayStation VR Bundles to Include Camera Adaptor for PlayStation 5

Energy4 hours ago

McKim & Creed Acquires­ Water Loss Recovery and Control Firm

Energy4 hours ago

Global Cable Management Market (2020 to 2027) – by Type, and End-user

AR/VR5 hours ago

Qualcomm’s XR Enterprise Program Doubles Membership, Includes Holoride, OssoVR & Talespin

Energy5 hours ago

Worldwide Industry for Cables and Connectors to 2027 – Growing Number of Data Centers Presents Opportunities

Energy5 hours ago

Xinhua Silk Road: La transformación verde es vital para el desarrollo del carbón de coque y la cooperación energética de la B&R

Automotive5 hours ago

ALYI Highlights Next Steps

Energy5 hours ago

Field Squared Selected by TRC to Embolden Digital Transformation of Its Utility Service Operations

Crowdfunding5 hours ago

The Worst Way to Respond to Any Market Crash

Blockchain5 hours ago

Billionaire Mike Novogratz Builds Bitcoin Position on Prescience

Entrepreneur5 hours ago

It’s Time for You to Rise Up!

Entrepreneur5 hours ago

If You’re Not Using a CRM System for Your Small Business, You’re Wasting Time and Money

Patents6 hours ago

New electroactive bacterium for wastewater treatment

Blockchain6 hours ago

Latvian Financial Watchdog Issues Crypto Fraud Warnings

Cannabis6 hours ago

PURA Concludes Farmersville Meetings – Deal Imminent

EdTech6 hours ago

Blended Learning Best Practices (with Catlin Tucker) – SULS085

Entrepreneur6 hours ago

This CEO Doesn’t Look at Resumes When Hiring

Entrepreneur6 hours ago

Virtual Meeting Etiquette Guide for Hosts and Attendees

Entrepreneur6 hours ago

9 Ways to Add Revenue to Your Marketing Agency Before 2021

Blockchain6 hours ago

Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis

Coinpedia6 hours ago

Brookmount Explorations, Inc. Reports Record 3rd Quarter Earnings

Blockchain6 hours ago

Billion Dollar Companies Interested In DeFi, As Crypto.com Study Shows

Biotechnology7 hours ago

PAOG Advances FDA Application Process For Respiratory Cannabis Drug Treatment

AR/VR7 hours ago

Survios Releases ‘Combat Rebalance Patch’ for The Walking Dead Onslaught

Blockchain7 hours ago

Hackers Donate Stolen Bitcoin To Two Different NGOs: Report

Patents7 hours ago

EIP and Osborne Clarke successful for PanOptis against Apple

Blockchain7 hours ago

DASH Breaks Out From Long-Term Bullish Pattern

Coinpedia7 hours ago

ZICIX Set to Modernize the Coupon Industry with an Innovative, Integrated Smartphone App and Dashboard Solution

Blockchain7 hours ago

LINK Rejected $11 Price Level, Could Drop Below $10.5: Analysis

AR/VR7 hours ago

FundamentalVR now Supports Ophthalmology Training

Energy8 hours ago

nexAir acquires Atlanta-based medical gas supplier

Energy8 hours ago

Sight Machine Puts the True Smart Factory in Reach With Automated Optimization of Manufacturing

Blockchain8 hours ago

DASH Enters DeFi The Price Reacts Immediately, Jumping By 12%

Energy8 hours ago

QMC Responds to Announcement of Canadian Electric Vehicle Production

Trending