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Using BTC and ETH as Gas on the NULS Network Analysis
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Bitcoin Miners Get 4% Relief on Difficulty The last network tweak reduced Bitcoin mining difficulty by almost 4%, according to on-chain statistics. Latest Adjustment Lowers Bitcoin Mining Difficulty The “mining difficulty” statistic measures how tough Bitcoin block mining is. This indicator's value changes automatically every two weeks on the BTC blockchain. The goal of the challenge must be understood to determine whether this shift is beneficial or bad. A method to curb asset inflation is challenging. The only option to raise BTC supply is to mine new blocks and get block subsidies. The block subsidy is constant, hence the only variable affecting bitcoin supply increase is miners' hashing rate. Thus, this rate must be limited to control asset inflation. Coin founder Satoshi understood this and created the difficulty as a solution. Miners mine quicker and earn block subsidy faster as their hashrate increases. Although the BTC network does not want this, it boosts its difficulty to slow miners down to the targeted pace of a block every 10 minutes. When miners lose hashrate, the difficulty reduces, so they can process blocks at the same speed with less computer power. The graphic below implies this latter sort of shift happened during the recent adjustment. This recent downward modification has reduced BTC network difficulty by almost 4%. The graph demonstrates that the chain has been responding to the miners growing quicker at their work since the last adjustment was sharply positive. The 7-day average mining hashrate chart showed this, since its value reached a new ATH before this difficulty rose. Due to the difficulty, when new miners join the Bitcoin network, their income share decreases since the block subsidy stays the same. The hashrate has dropped since its ATH because miners were pressured by the high difficulty bump. Due to the difficulties of identifying a negative change, some miners may perceive better circumstances. #Bitcoin #BTC $BTC
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PEPE Prices Drop Below $0.00000766, Causing a Wave of Sales Support
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What does a 50% increase in 30 days signify for DOGE in the Dogecoin whale market? According to statistics compiled by IntoTheBlock, the number of Dogecoin wallet addresses containing more than 10 billion DOGE increased by 50% in the last 30 days. Almost half of all Dogecoin wallet addresses are resting on losses that have not been recognized yet. Doge may see gains of 12% and re-enter the $0.1145 range. There was an increase in the number of whale wallet storing Dogecoin (DOGE), the biggest meme coin in the cryptocurrency ecosystem. The number of wallet addresses holding more than 10 billion DOGE has increased by 50%, according to data from the on-chain intelligence tracker IntoTheBlock. The current price of DOGE is $0.10227. The meme currency Dogecoin is being snatched up by whales during dips. Large wallet investors amassed Dogecoin within the last 30 days, despite the crypto market fall. The number of wallets holding more than 10 billion DOGE coins has grown by 50%, according to statistics from IntoTheBlock. Wallets containing varying quantities of DOGE tokens exhibit minor fluctuations in the aforementioned chart. When selling pressure decreases and whale wallet holdings rise, it's good news for the asset. Nearly half of all Dogecoin wallet addresses (48%) have unrealized losses, according to data from the Global In/Out of the Money (GIOM) measure. Wallet holders usually don't lose much, which means the asset isn't under as much selling pressure. The current price of DOGE is $0.10227. Potential 12% Gains for Dogecoin Starting at a high of $0.2288 on March 28, Dogecoin fell all the way to a low of $0.08050 on August 5. During its comeback, DOGE is anticipated to continue its ascent towards crucial support from February to July 2024, a 12% surge. Green histogram bars flashing above the neutral line on the DOGE/USDT daily chart indicate bullish underlying momentum in Dogecoin price trend, according to the Moving Average Convergence Divergence (MACD) indicator. #DOGE #Dogecoin $DOGE
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