🗞 Daily Crypto News, September, 27th💰
- What Crash? Bitcoin Hash Rate Doubles in 24 Hours Despite Price Drop ;
- Why Bitcoin Tumbled Below $8K ;
- Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees ;
- Maduro’s Secret ‘Stash’ of Cryptos is Unlikely to Affect Bitcoin Price ;
- Telegram to Award Devs $400K in TON Blockchain Smart Contracts Contest ;
- 📑 Daily Crypto Calendar, September, 27th💰
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
🗞 What Crash? Bitcoin Hash Rate Doubles in 24 Hours Despite Price Drop
Bitcoin (BTC) has already dispelled myths its hash rate suffered a 40% drop this week, reaching new all-time highs just days afterwards.
What hash crash?
As data from monitoring resource Coin Dance confirms, after the hash rate metric dipped from 104 quintillion hashes per second (h/s) to 57 on Sept. 23, it immediately reversed.
On Sept. 24, it doubled, reaching 114 quintillion h/s, just a touch away from the all-time highs of 121 quintillion h/s seen ten days previously.
🗞 Why Bitcoin Tumbled Below $8K
Bitcoin’s price briefly slipped below $8,000 on Thursday for the first time in three months, though the cryptocurrency is still more than double its level at the start of 2019.
What do these bold – and volatile – moves mean for the ecosystem?
David Nage, principal at the Los Angeles-based money manager Arca Funds, discusses his views on this week’s price drop and whether price volatility in cryptocurrencies might turn off big investors.
🗞 Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees
Ethereum transaction fees are back on the rise and gaining parity with bitcoin transaction fees.
As seen in data charts provided by blockchain analytics firm CoinMetrics, ethereum surpassed bitcoin in daily transaction fees on Sept. 21. While ethereum has since been maintaining a close parity with bitcoin’s daily transaction fees, bitcoin currently beats out ethereum at roughly $350,000 in fees per day.
🗞 Maduro’s Secret ‘Stash’ of Cryptos is Unlikely to Affect Bitcoin Price
A Venezuelan state-run oil and gas company appears to be sitting on a bitcoin (BTC) and ethereum (ETH) unspecified “stash” – and the country’s central bank is looking for ways to store the cryptocurrencies in its coffers.
Per a report from Bloomberg – who claim that president Nicolás Maduro now has a “Bitcoin stash he doesn’t know what to do with” – unnamed sources have told the news agency that the oil producer, Petroleos de Venezuela, has been “struggling” to get paid in conventional fiats.
However, the agency also speculated that Venezuelan companies “may be hesitant to sell cryptocurrencies on the open market,” as they are reluctant to go through Know-Your-Customer and other due diligence protocols at major crypto exchanges. If this is the case, BTC and ETH might be sold in smaller batches by using over the counter (OTC) services which would not affect the prices on crypto exchanges.
🗞 Telegram to Award Devs $400K in TON Blockchain Smart Contracts Contest
Global messaging app Telegram announced a coding competition for building smart contracts for the Telegram Open Network (TON) Blockchain.
5 types of smart contracts
The contest includes three parts with a prize fund for all included tasks ranging from $200,000 to $400,000, according to an announcement posted on the Telegram Contests channel on Sept. 24. The contest will end on Oct. 15.
The primary part of the competition is the task to build one or more smart contracts, using the tools provided in the TON Blockchain distribution, as described in the attached TON Contest document.
📑 Daily Crypto Calendar, September, 27th💰
- 3DCoin (3DC)
"3DCoin Project Districts AMA on Telegram. Starts at 12:00 UTC+4 (noon), ends at 18:00 UTC+4."
- OKB (OKB)
"Meet us in Valencia on 27 Sep, as Stefan Beyer, CEO of Cryptonics shares his insights on the "Future of Cryptosecurity"."
- General Event (CRYPTO)
Cripto Latin Fest in Cordoba, Argentina from September 27 - 29.
- Cocos-BCX (COCOS)
"Seoul, Sep. 27"
- EthereumX (ETX)
An update to ongoing EthereumX airdrop program will be released.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
The STEEM tested the low of yesterday but it didn't really broke it. Does it means we reached the low at short term time frame, yeah it could. If we start a nce up now, we could even see a pattern of W taking place. So for sure, don't expect a big up when the BTC is correcting like we are experiencing now, but at least it could stop us to drop lower.
Last Updates
- 🗞 Daily Crypto News, September, 26th💰
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- 🗞 Daily Crypto News, September, 22nd💰
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