Litecoin is in the coming altcoin news because of its hash rate. According to the latest cryptocurrency news, Litecoin (LTC) has achieved a new all-time high of its hash rate on April 8, measuring 359 terahash.
The rapid increase in the hash rate of the Litecoin blockchain network represents computing power that protects and secures the protocol and comes in the middle of a demonstration of strong performance by Litecoin (LTC) in recent months.
Since January, Litecoin managed to record a 160% increase in value against the US dollar, proving that it is among the best performing cryptocurrencies in the global market right alongside Binance Coin (BNB), Enjin Coin (ENJ) and Augur (REP).
The potential factors of the rise of the price and the hash rate of Litecoin are considered as a positive indicator of confidence. However, arguments are made that improvements in hardware and mining equipment can lead the hash rate to rise.
The new increase in the hash power of the Litecoin network was affected by the momentum of the short-term price trend of Litecoin (LTC). Still, it is entirely possible that the overall improvement in the efficiency of mining equipment has fueled the network’s hash rate.
According to Franklyn Richards who is an early Litecoin team member operating Litecoin.com:
“Another potential explanation for the recent rise, besides price, may be more efficient mining hardware being issued /used. If this were the case we are not expressly aware of it.”
The price of LTC is also going up. While new cryptocurrencies consistently emerge and are featured on the best cryptocurrency news sites, if they are not backed by active development, investors may lose confidence.
A 2017 study by JP Vergne who is a professor at Ivey Business School proved this, stating:
“Besides, a new cryptocurrency may look more appealing than its older competitors at the time of introduction, but if it is not backed by a solid team of developers who continually improve its underlying software, over time it will be unable to maintain its initial technological advantage.”
Right now, we can only hope that the price growth of Litecoin (LTC) is as consistent and featured in our altcoin news section.
Binance Removes US Resident Ban: Launching In “A Month Or Two”
“3. Prohibition of use By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that "Binance is unable to provide services to any U.S. person," - which is why the difference is obvious.
China’s Digital Fiat Currency Is Not A Real Cryptocurrency
“Since last year, the staff at the Digital Currency Research Lab have been working 996 to develop the system. We can say the CBDC is now ready to launch at one’s call," was his speech, later shared by many best cryptocurrency news sites.The CBDC with this aims to replace MO, meaning cash in circulation through a two-tier system. The central bank will issue the digital yuan only to commercial banks, who will further issue it to the public. Meanwhile the PBoC and its Digital Currency Research Lab are the ones standing behind China's digital fiat currency - along with more than 50 patent applications which are all either invented or co-invented by Yao Qian. One patent application reads:
“The emergence of digital currency is an inevitable trend. So far, privately issued digital currency bears the features of anonymity and volatility. Central banks must take their impacts on the payments, monetary systems and financial stability seriously. As such, it’s inevitable for central banks to push for digitized fiat currencies to optimize their circulation.”However, physical cash is still arguably the only form of fiat money inside China that can remain anonymous. We can see that China's digital fiat currency is not close to cryptocurrency - and the only third-party methods which are compared to bank wire can be offered by companies like Alibaba or WeChat - both requiring real-name verification authenticated by users' IDs as well as additional banking information.
“Existing M0 (banknotes and coins) are subject to counterfeit and money laundering risks. … The [CBDC] system should follow the existing rules about anti-money laundering and anti-terrorism financing imposed on cash, and should report to the PBoC on large amounts and suspicious transactions,” Mu emphasized in a speech.
Market With Mixed Signals As Ether And Bitcoin Record Minor Gains
XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis
"Although many of the technicals like RSI, and position relative to moving averages looks like XRP is severely oversold and could bounce, traders should be cautious because the token has been falling out of favor with many crypto market participants, and there are many competing projects with similar characteristics and arguably a much better value proposition that have come to market."
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