Cryptocurrency market capitalization exceeded $ 3 trillion for the first time

(ORDO NEWS) — Cryptocurrency market capitalization exceeded $ 3 trillion for the first time

Cryptocurrency market capitalization exceeded $ 3 trillion for the first time, it follows from CoinGecko data. The portal takes into account the indicators of 10 433 digital assets. Bitcoin has risen sharply tonight and rose to $ 66,000. The jump occurred simultaneously with the message of the founder of Digital Currency Group and Grayscale Barry Silbert that we are waiting for “an important week.” What exactly Silbert meant is still unknown. Last week, there were reports that the Digital Currency Group is selling stakes to investors such as SoftBank and Google for over $ 10 billion. Prior to that, Digital Currency Group’s valuation was unknown, as the company has only raised $ 25 million in capital since its founding six years ago. Also, the Securities and Exchange Commission (SEC) of the United States confirmed the start of consideration of the application for the transformation of the world’s largest bitcoin fund managed by Grayscale into an ETF.

The Russian authorities supported the idea of ​​equating mining with entrepreneurship

Cryptocurrency mining should be recognized in Russia as a type of entrepreneurial activity with its own OKVED classifier and taxation procedure, they said representatives of the Ministry of Economic Development, the Ministry of Energy and the State Duma. The Ministry of Economics explained that mining meets the definition of entrepreneurial activity in accordance with the Civil Code of the Russian Federation. The ministry also noted that the relevant amendments will increase revenues to the state budget, and are expecting proposals from the business community in the near future. The Ministry of Energy said that the legalization of mining will allow at the stage of connecting the miner to the power grid to determine the type of load consumed, since it is very different for ordinary needs and certain types of entrepreneurial activity. The head of the State Duma’s financial market committee, Anatoly Aksakov, said that, among other things, increased electricity tariffs could be applied to miners.

Media: Bitmain will release a new miner for bitcoin mining

Mining equipment manufacturer Bitmain will release a more efficient Bitcoin mining device, the S19XP, with a hash rate of 150 TH / s, sources say . The miner will use the latest 5nm chip technology to deliver improved performance and energy efficiency. According to the source, the device will produce a hash rate of 150 TH / s with a power consumption of 3.1 kWh. Bitmain plans to unveil the device in Dubai this week and is already promoting it to its largest customers, sources say. If the performance data is confirmed, the S19XP will become the highest performing Bitcoin mining hardware model on the market.

Sweden urged to ban mining in the European Union

Swedish regulators said that mining Bitcoin and other cryptocurrencies on the Proof-of-Work algorithm will prevent the country and the European Union from complying with the Paris Agreement on Climate Change. The head of the Financial Conduct Authority, Eric Tedeen, and the head of the Environmental Protection Agency, Bjorn Reisinger, called for a ban on the mining of crypto assets in this “energy-intensive way.” The officials noted that at the current cost of the cryptocurrency, they lead to the emission of up to 120 million tons of CO2 into the atmosphere per year. This is equivalent to the carbon footprint of 100 million roundtrip flights between Sweden and Thailand. According to regulators, attention to the issue of environmental friendliness of mining has led to the fact that more and more miners are exploring the possibility of using renewable energy sources. Due to the availability and low prices for it in Scandinavia, many industry participants are considering the idea of ​​relocation to the region. Since April in Sweden, electricity consumption for mining has increased by hundreds of percent, and in August the figure reached 1 TWh. The heads of departments believe that the use of renewable energy for the extraction of cryptocurrencies is unreasonable.

The total cryptocurrency market capitalization at 17:10 is $ 2,857,480,175,286. Trading volume in 24 hours was $ 111,636,518,678

  • Bitcoin has risen in price by 5.84% to $ 65,553.85
  • Ethereum rose 2.33% to $ 4727.84
  • Tether fell 0.03% to $ 1
  • Cardano rose 1.82% to $ 2.03
  • Binance Coin Falls 1.86% To $ 652.1

The best growth among the top 100 cryptocurrencies was shown by: Loopring (+ 16.33%).

Mining profitability

  • Bitcoin: $ 0.2777 for 1 TH / s
  • Ether: $ 0.0936 for 1 MH / s
  • Bitcoin Cash: $ 0.2826 for 1 TH / s
  • Litecoin: $ 3.7923 for 1 GH / s
  • Dash: $ 0.0326 for 1 GH / s


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