![]() ![]() As difficulty increases, miners may face thin profits if the bitcoin price remains dormant, as more computing power and electricity are required to mine. On Monday, bitcoin hit its all-time high mining difficulty (for the second time this month) after rising 3%. ![]() Arab.įor most of the green crypto market of the week we can point to generally more optimistic macroeconomic trends this week, even in the stock market after several major companies reported earnings. The deal to take over Twitter has been closed. Elon Musk’s favorite cryptocurrency Dogecoin (DOGE) blew 10 cents (yes, still down from 72 cents in May 2021) with a 77% increase in the week on the back of news that the Tesla CEO has finally raised $44. Other notable rallies this week include: Ethereum Classic (ETC) up 17% to $25.79, Litecoin (LTC) up 7% to $55, Uniswap (UNI) up 14% to $6.88, Binance Coin (BNB) up 11% to $300 Done, and Polygon (MATIC) climbed 16.2% to 93 cents.īut the meme coin king won the week. ![]() The so-called “Ethereum killer”, the layer-1 blockchain with high-efficiency smart contracts, had a good week, with Cardano (ADA) rising 15% to 40 cents, Solana (SOL) climbing 17% to $ 32.83, Polkadot (DOT) rose 11% to $6.52 and Avalanche (AVAX) rose 18% to $18.38. Ethereum (ETH) gained 24% during the week to $1,613 at the start of the weekend. According to CoinGecko, Bitcoin (BTC) is up 8% over the past seven days and is trading at $20,718 at the time of writing. The crypto market opened this week for the first time in six consecutive weeks. Illustration by Michelle Prefer for Decrypt. ![]()
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