Litecoin is yet again in our altcoin news after reaching a new high of its hash rate since it reached 140 TH/s in December 2018. Now, the hash rate has grown slowly reaching above 200 TH/S for the first time since December last year.
The last time Litecoin’s hash rate was close to this new high was in April 2018 when Litecoin’s price increased up to $120. The value of this altcoin dropped quite a lot which caused miners to drop out of the mining activities and start opting for more profitable coins.
The hash rate of Litecoin was near to bottoming out at 140 TH/s and has since then started to increase. The recent price trend for the cryptocurrency has contributed for the miners to get back on track and turn on their equipment. Many analysts predicted that the hash rate of Litecoin could reach beyond 250 TH/S and it turns out that is a real possibility.
Turns out that Litecoin is still profitable to mine. Analysts show that mining Litecoin gives an average profit of $2.80 in the current bear market.
Also, as previously reported, the price increased due to the new partnership with Beam, a software development company which led to affecting the price of Litecoin which made it increase up to 30 percent, overtaking EOS and Bitcoin Cash. If we take a look at the performance these past days, the altcoin traded somewhere around $30 and $34 for the bigger part of January.
Litecoin made another great partnership and will now officially be the sponsor of the Hollywood-based Mammoth Film Festival.
Venezuelan President Mandates New Petro-Financed Housing Scheme
“We tell President Nicolás Maduro that we continue to follow his instructions, moving forward and giving concrete samples when delivering homes, and the next milestones will be with Petro and the homes will be more protected by this mechanism.”Another member of the Venezuelan government was in the altcoin news. Joselit Ramirez, who is the superintendent of virtual currency in the country, praised the department and its confirmaiton that it will adhere to the Petro Incentive plan. He described the department as “a bastion of transformation of the entire national economy" and stated that this program will allow private investors to finance the construction of public housing through the stock market with 4,000 houses set to be constructed. This announcement was featured on many best cryptocurrency news sites and local news sites portraying the Venezuelan president as an authority leading the scheme. The announcement also comes 15 months after the government in the country and its desired to finance public housing using Petro cryptocurrency was first reported. As the coming altcoin news show, the financing initiative approved by the Venezuelan president Maduro is the latest attempt of the government in the country to cultivate Petro adoption via executive mandate. Earlier this month, the Bank of Venezuela launched an online portal which aim is to facilitate Petro wallet registrations. The announcement followed an official order from the Venezuelan president Nicolas Maduro in July - which demanded that the country's central bank must provide support for Petro. At the end of August 2018, Maduro ordered banks throughout Venezuela to accept the oil-backed virtual currency as a unit of account.
Will Next Gen Altcoins Blossom In The Next Crypto Bull Run?
BitMEX CEO Arthur Hayes: ‘Traditional Traders Are Under Pressure’
“Some of the practices in our market are going to be mimicked in traditional trading [...] All these things about being somewhere and trading something and physically reconciling records is all going to go out the window. Once you get away from that and understand that everything will be digital in the next 10 years, you realize that Bitcoin isn’t such a strange idea.”It remains to be seen how labor organizations which were crucial in the adoption of weekends, the 40-hour workweek and mandatory break - will respond to the claims of the BitMEX CEO Arthur Hayes and especially if his prediction passes. On September 18 and before this, the CEO of BitMEX was in the news for predicting that Bitcoin (BTC) could soon shoot to $20,000 as a result of emergency measures from the United States Federal Reserve. The comments by Hayes came right after the Federal Reserve swooped in and decided to decrease interest rates on some loans which reached more than 10% or four times its target. More than $53 billion was pumped in the economy through the quantitative easing (QE) measures.
“QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000,” the BitMEX CEO Arthur Hayes tweeted back then.The latest Bitcoin and altcoin news show a new correction on the market. The total market cap is now at $267 billion and Bitcoin is again below $10,100.
Upbit Exchange Delists Privacy Coins Including Monero, Dash and Others
“There are also crypto-assets that can selectively utilize anonymity features among projects that are subject to end of transaction support. For these crypto-asset, Upbit has only supported transparent withdrawal/deposit support. Nevertheless, the decision to end trading support for the crypto-asset was also made to block the possibility of money laundering and inflow from external networks. Upbit will continue to consider crypto-asset that represent anonymity functions as candidates for designation of investment warning crypto-asset.”Now that Upbit exchange decided to delist the privacy coins, the coming altcoin news show that coin prices are starting to drop. According to Messari analytics, the Zcash price dropped over 50% since July 1 joined by Monero, which has been down near 20% over the same period. Still, the exchange delistings and price drops have not necessarily slowed privacy coin tech development. Over the past month, the Electric Coin Company by Zcash released Halo which is the long-awaited zk-SNARK which can verify a single blockchain in one proof.
Join us on Facebook
- Venezuelan President Mandates New Petro-Financed Housing Scheme
- NASA Is Hiring A Data Scientist With Crypto/DLT Background
- Merchants Accepting BTC In 2019: What Can You Buy With Bitcoin?
- Will Next Gen Altcoins Blossom In The Next Crypto Bull Run?
- CipherTrace Scout App Lets You Flag BTC/ETH Tokens On Mobile
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
Tether’s Burning Of 400M USDT Could Crash The Bitcoin Price
Altcoin News3 days ago
Wells Fargo Tokenizes Cash But Avoids Calling It A Cryptocurrency
Altcoin News3 days ago
Ripple And Coinbase Relations Rumor Will Fuel XRP By 20%
Bitcoin News5 days ago
Current Bitcoin Is Stronger Than Ever, But No One Cares: Google Trends
Bitcoin News4 days ago
Deloitte Starts Testing Bitcoin Payments For Its Staff
Ethereum News2 days ago
ETH Looks Bullish As Its Uptrend Continues
Bitcoin News2 days ago
CME BTC Futures Volumes Hits 4-Month Low: Analysis
Bitcoin News4 days ago
Bitcoin Will Surge After It Reaches $10,700: Analyst Prediction