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How Mining Works in Simple Terms?🤯💥📈 Mining is the process of creating new cryptocurrency coins and confirming transactions on the blockchain network. Let's break down this process step by step. Mining Process Transaction Collection. There are many transactions in the network. Miners collect them into one block. Solving the Problem. To add a block to the blockchain, miners must solve a mathematical problem. This task requires significant computational power and time. Confirming and Adding the Block. Once the problem is solved, the block is added to the blockchain, and all network participants see this new block. Reward. The miner who solved the problem receives a reward in the form of new cryptocurrency and fees for the processed transactions. Mining performs two important functions: Creating New Coins. This is the only way to create new coins in the network. Transaction Confirmation. Mining ensures the security and reliability of the network by confirming transactions and protecting the blockchain from fraud. Mining requires significant investments in equipment and electricity, becomes more difficult and expensive with the increase in the number of miners, and price fluctuations in cryptocurrencies affect its profitability.
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The Mt. Gox exchange transferred 47,230 BTC to a new address, raising market concerns. Payouts to creditors could lead to a mass sale of bitcoins, potentially lowering the cryptocurrency's price. Bitcoin dropped by 10.62% over the past week, adding to investors' worries. Now we have a new crypto lottery — guess how many more bitcoins will appear on the market! 🎟#MtGoxJulyRepayments
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Overview of Cryptocurrency Futures Trading Volumes 💥 The image presents data on the 24-hour and weekly trading volumes for various cryptocurrency platforms and futures. Binance Futures leads with $65.01 billion in 24-hour volume and $319.63 billion in weekly volume. Poloniex Futures is in second place with $29.75 billion in 24-hour volume and $178.52 billion in weekly volume. OKX Futures ranks third with $29.00 billion in 24-hour volume and $143.63 billion in weekly volume. Bybit Futures and Binance show $24.64 billion and $18.34 billion in 24-hour volume, respectively. MEXC Futures also showed a significant weekly trading volume of $21.37 billion.
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How to Earn $3,000 a Month in Crypto Without Trading! 🚀💰 If you're dreaming of pulling in $3,000 a month in cryptocurrency without getting tangled in the web of trading, there are several strategies to explore. Remember,Every path has its bumps and risks. 🌱 Long-Term Investment One solid approach is to invest in projects with strong fundamentals and promising growth potential. This strategy demands patience, as substantial returns might take some time. 💎 Staking Rewards Staking is another popular method where you hold a specific cryptocurrency in a wallet to support the network and, in return, earn additional tokens. Be cautious, though—not all staking opportunities are equal, and sometimes returns can fall short of expectations. 🖥️ Crypto Mining For the tech-savvy, cryptocurrency mining can be an intriguing option. This involves solving complex problems to validate transactions and add them to the blockchain. But beware—it’s easy to underestimate the costs, like the high price of specialized hardware and the electricity needed to keep it all running. 🌐 Dive into DeFiDecentralized finance (DeFi) offers another avenue for earning crypto. DeFi lets you lend your assets to earn interest or provide liquidity to decentralized exchanges and earn fees. However, the DeFi world can be volatile and prone to technical hiccups. 💼 Freelance in the Crypto Space Finally, consider freelancing or offering services in the ever-expanding crypto industry. There’s growing demand for content writers, marketers, developers, and consultants with expertise in cryptocurrency and blockchain technology. 🎯 The Journey to $3,000 a Month Reaching that $3,000 a month goal in cryptocurrency takes dedication, the willingness to learn from mistakes, and a bit of trial and error. Stay updated on market trends, be open to exploring different opportunities, and always manage your risks wisely.
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$BONK Price Rises 10% with $500 Million Volume: Can It Pass Shiba?🤯 BONK has risen 10.35% in the past 24 hours while meme coins fell 1.4%. Indicators suggest further upside. BONK rose 19.28% last week. This strong growth contrasts with Bitcoin (BTC) and Ethereum (ETH) losses and retracements. BONK is regaining from its 20.27% loss during the previous month. Despite recent price declines, BONK's trading volume has increased 99.02% in the previous 24 hours. Can BONK Price Break Shiba Inu? The BONK price is poised for additional gains after its early morning jump. Most importantly, BONK looks to be nearing a retest of the $0.00002568 support level (dark grey) after failing to break resistance. A decisive rebound off this support would signal resilience and upward potential. After failing its resistance test, the meme coin's relative strength index (RSI) (purple) dropped to 55 from 85, supporting this possibility. The minor price drop reflects a slowdown from overbought to steady circumstances. Technical analysis of BONK price chart. Source: Binance. Despite being neutral, 55 is bullish. Thus, this might be a cool down, strengthening the base before additional upward. Wider patterns imply this. Most importantly, the 30-day moving average (yellow) is rising sharply, easily above the 200-day (blue), which is rising moderately. Although BONK corrected, it has tremendous short-term momentum. Additionally, the asset's long-term trend is strengthening, boosting its prognosis. Can this challenge Shiba Inu's dominance? Technical indications predict short-term price gains, but fundamentals will likely drive long-term development. For a chance at the podium, traders are switching to meme currencies with genuine usefulness, not simply popular memes and a loyal following.
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