dash

Biggest Movers: DASH, CVX and ALGO Lead Monday’s Gainers, APE Falls Further

21/03/2022 by Idelto Editor

CVX was the biggest crypto gainer to start the week, as both DASH and ALGO also climbed higher. Despite ALGO rising to its highest level in over three weeks, gains in DASH and CVX were more noticeable. This came as APE once again traded in the red.

Convex Finance (CVX)

Convex finance (CVX) was Monday’s biggest gainer, as the world’s 77th largest cryptocurrency rose by as much as 15% to start the week.

Following a low of $17.90 on Sunday, CVX climbed to an intraday high above $21.56 on Monday, as prices hit a ceiling.

Today’s move was the highest level CVX has traded since March 2, as prices continued to move away from support at $15.50.

Monday’s surge saw prices near resistance of $22.00, however slipped from this point as bulls likely consolidated earlier gains by closing their positions.

Looking at the chart, the 10-day (red) moving average, and the 25-day (blue) have also marginally crossed, which sets the table for further bullish momentum.

If this upward trend continues, we could see a break similar to the one on March 2, where prices rose to above $30, during a flash spike.

DASH

DASH rose to a three month high during today’s session, as it rose for a fourth consecutive session on Monday.

Today’s high, saw DASH/USD rally to a high of $122.83 to start the week, which follows a low below $101 on Sunday.

Monday’s move is the highest point DASH has reached since January 21, as markets were in free fall, dropping to as low of $79 during that week.

As of writing this, DASH is now trading below its long-term resistance level of $121.100, which is a level that last provided prices with high levels of bearish pressure.

The 14-day RSI is also severely overbought, tracking at its highest point since November, which could give impetus to bears to consider re-entering.

Is DASH currently preparing for a change in momentum? Let us know your thoughts in the comments.

Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year

26/01/2022 by Idelto Editor

Study Shows Dogecoin, XRP Saw the Largest Network Fee Increases Last Year

There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of metrics have changed. A recent report from forexsuggest.com shows that dogecoin fees saw the largest increase since January 1, 2021, jumping 4,230% in a year. Ethereum’s transaction fees were the most expensive at the end of 2021, as the average transfer fee was $52.45 per transaction.

Dogecoin, XRP, Blackcoin Saw the Highest Transfer Fee Rises in 12 Months

Digital currencies saw significant growth last year in terms of value and onchain data. The average cryptocurrency transaction fees in 2021 changed a great deal as well. A study published by forexsuggest.com highlights 15 different crypto assets in order to compare average fees and the growth over 12 months. Some of the assets chosen were relatively unknown and older cryptos such as feathercoin (FTC) and blackcoin (BLK).

According to the researchers, dogecoin (DOGE) saw the largest fee increase in the year, spiking 4,230% from $0.01 per transfer to $0.433. Xrp (XRP) saw the second-largest increase in 12 months jumping 3,810% from $0.000166 to $0.00649 per transfer.

The third biggest increase over the last 12 months was blackcoin (BLK), with transfer fees increasing 1,886% from $0.00000442 to $0.0000878 per transaction. The most expensive transaction fees occurred on the Ethereum (ETH) network, and ETH was also the fourth largest gainer in terms of 12-month fee increases.

ETH transfer fees jumped 1,459% from $3.36 to $52.45 per transaction. The fifth-largest jump in fees stemmed from the Zcash (ZEC) network, as ZEC fees increased 806% in 12 months. ZEC fees on January 1, 2021, were around $0.00000406 and at the end of the year, ZEC transfer fees were $0.0000368.

Feathercoin, Monero, Bitcoin Fees Drop

Forexsuggest.com’s study shows three crypto assets that saw 12-month network fee decreases. Feathercoin (FTC) saw a 51% decrease in transfer fees, and monero (XMR) saw its transaction fees drop by 29%. Bitcoin (BTC) fees shed 26% during the course of the 12-month span.

FTC’s transfer fees on January 1, 2021, were $0.000194 and at the end of the 12-month cycle, FTC fees were $0.0000955. Bitcoin’s transfer fees were $5.55 per transaction at the start of the 12-month time span and at the end, data indicates BTC fees were $4.09 per transfer. The study’s researchers leveraged fee data sources from ycharts.com and bitinfocharts.com, and collected the metrics on the 1st day of every month last year.

Cryptocurrencies that offer transaction fees that are around a U.S. penny or less include dash (DASH) $0.0173, bitcoin cash (BCH) $0.00851, xrp (XRP) $0.00649, bitcoin gold (BTG) $0.00545, and ethereum classic (ETC) $0.0039.

Below ethereum’s $52.45 per transaction fee were bitcoin fees, followed by binance coin (BNB) at $0.562 per transfer as far as the most expensive transfer fees were concerned. Litecoin (LTC) fees recorded at the end of last year were around $0.0278 per transaction.

What do you think about the crypto transfer fee increases last year? Let us know what you think about this subject in the comments section below.

These Are the Crypto Economy’s 10 Most Expensive Assets per Unit in 2022

21/01/2022 by Idelto Editor

A lot has changed in regard to the prices of various crypto assets throughout 2021, as today’s top crypto assets look a lot different than they did 12 months ago. Moreover, the most valuable cryptocurrencies in terms of U.S. dollars per unit have also changed, and the top ten most expensive coins have shifted. The following is a look at the top ten most expensive crypto assets in 2022, in terms of USD per unit.

The Top Ten Most Expensive Crypto Assets in 2022

At the time of writing, the top four most expensive digital currencies today are worth 5-digits in value against the U.S. dollar. For instance, the price of bitcoin (BTC) is around $38K per unit, and BTC, WBTC, and Huobi BTC (HBTC) are the top three most expensive crypto assets.

Of course, HBTC and WBTC are tokenized forms of bitcoin, which means — give or take a few percentages — they are all roughly the same price per token. Meanwhile, the fourth-most expensive crypto-asset, which is also 5-digits in USD value, is the token yearn finance (YFI).

Currently, YFI is changing hands for $28,425 per unit. The next two tokens are ethereum (ETH) and a tokenized ethereum coin called lido staked ether (STETH). Similar to the tokenized BTC projects, ETH and STETH are roughly the same price.

However, ETH is trading for $2.7K per unit which is only four digits in USD value. Another four-digit contender following ETH and STETH is maker (MKR), which is swapping hands for $1,800 per unit.

The aforementioned digital currencies represent the top seven most expensive crypto assets today. Below maker (MKR) is binance coin (BNB), trading for three digits in USD value at $417 per unit, bitcoin cash (BCH) at $337 per coin, and kusama (KSM) at $228 per unit.

While BNB, BCH, and KSM represent the last of the top ten most expensive, ten more coins below KSM are trading for three digits in USD value. These include aave, monero, elrond, compound, quant, litecoin, solana, dash, zcash, and bitcoinsv. Every coin below bitcoinsv (BSV) is trading for under $100 per coin.

What do you think about the top ten most expensive crypto assets and the triple-digit coins below the top ten? What do you think about looking at the crypto economy from this perspective? Let us know what you think about this subject in the comments section below.

Bitcoin, Ethereum, Monero Hashrates Tap Lifetime Highs — Dash, ETC, LTC Hashpower Lower Than Prior ATHs

17/01/2022 by Idelto Editor

During the first month of 2022, both Bitcoin and Ethereum’s hashrates have climbed to all-time highs (ATHs). While Bitcoin’s hashpower surged to over 200 exahash per second (EH/s), Ethereum’s hashpower jumped to over 1 petahash per second (PH/s). A few mineable digital asset networks, however, saw their hashrates decline since their ATHs and the processing power behind these protocols hasn’t returned back to the highs captured long ago.

While Some Hashrates Skyrocket, Processing Power From Other Crypto Networks Remains Lackluster

At the time of writing, Bitcoin’s processing power is coasting along above the 200 exahash per second (EH/s) zone, after touching the ATH it captured on January 15. Six-month hashrate statistics indicate that on Sunday, January 16, 2022, BTC’s hashrate tapped a daily high of 216.50 EH/s.

The top three mining pools on Monday, January 17, include F2pool, Foundry USA, and Antpool, respectively. All three pools have more than 15% of the global hashrate or 29 EH/s of hashpower.

Six-month and all-time metrics also show that Monero’s network hashrate is coasting along at all-time high records as well, with about 3.49 gigahash per second (GH/s) at press time.

In close to four days’ time, Bitcoin’s network difficulty is expected to increase 6.24% which will bring the network difficulty to an all-time high. The estimated difficulty after the next epoch change will be around 25.89 trillion, according to data at the time of writing.

Ethereum’s network hashrate is also managing to hold the 1 PH/s range after first tapping this goal in December 2021. The top mining pool on the Ethereum network is ethermine.org with 295 terahash per second of hashrate, and the percentage of ETH hashrate on Nicehash is 3.66%.

While networks like Bitcoin, Ethereum, and Monero have seen all-time highs, networks like Litecoin have not seen new hashrate ATHs in recent times. LTC’s network hashrate on Sunday is 368.96 TH/s, but during the first week of July 2019, LTC’s hashrate tapped an ATH at 468.50 TH/s.

Today, Dash has a hashrate of around 5.24 PH/s, but in September 2020 it hit 7.14 PH/s. In total, that’s a 26.61% decrease in the network’s hashpower in 16 months.

The Ethereum Classic network has an overall hashrate of 20.37 TH/s on January 17, which is lower than the network’s ATH in June 2021 at over 23 TH/s.

What do you think about Bitcoin, Ethereum, and Monero’s recent hashrate highs? What do you think about the networks that have not returned to ATHs reached months ago? Let us know what you think about this subject in the comments section below.

Despite Negative Mining Malware Press, Privacy-Focused Crypto Monero Jumps 36% in 2 Weeks

01/01/2022 by Idelto Editor

The privacy-centric crypto asset monero has seen significant gains during the last two weeks, jumping 36% in value against the U.S. dollar. Despite the negative press from the “Spider-Man: No Way Home” torrents with monero mining malware, seven-day statistics indicate the crypto asset has gained more than 21%.

Monero Sees Double-Digit Gains Amid Mining Malware Headlines

The privacy-focused digital currency monero (XMR) has seen double-digit gains this week, while most of the crypto economy has suffered losses and seen a period of consolidation. Just recently, XMR made headlines after a cybersecurity firm warned that torrent files containing the “Spider-Man: No Way Home” film may contain malicious monero mining malware.

Mining malware reports have plagued the Monero community for years as some applications exist which hijack a victim’s CPU, and then mine monero without the victim knowing. The act is sometimes referred to as “cryptojacking.”

Year-to-date, monero (XMR) has gained 58% against the U.S. dollar and the crypto asset has a market capitalization of around $4.4 billion, ranked 44th among 12,135 crypto assets. XMR represents 0.19% of the $2.3 trillion crypto-economy on January 1, 2022.

XMR has a 24-hour price range of around $227.51 to $248.45 per unit and tether (USDT) is the asset’s biggest trading pair with 42% of all trades. This is followed by BTC (18.39%), ETH (7.83%), USD (5.94%), EUR (3.35%), GBP (2.32%), and JPY (2.32%).

Monero (XMR) is an open-source digital currency network based on Cryptonote technology authored by Nicolas van Saberhagen in 2013. The blockchain network is said to be obfuscated but the blockchain surveillance firm Ciphertrace claims it has monero tracing capabilities.

The project’s privacy techniques include IP address obscuring, ring signatures, zero-knowledge proofs, bulletproofs, and stealth addresses. At the end of August 2021, a Monero developer announced BTC to XMR atomic swap capabilities. Additionally, monero (XMR) is leveraged on a number of darknet marketplaces.

Monero also faces numerous privacy-coin competitors such as horizen (ZEN), dash (DASH), and zcash (ZEC). ZEN, for instance, has gained 438% year-to-date against the U.S. dollar and ZEC increased 130.8% this past year.

What do you think about monero jumping 36% in value against the USD over the last two weeks amid the mining malware reports? Let us know what you think about this subject in the comments section below.