The total market capitalization of the cryptocurrency market has fallen 80% from $819 billion in January 2018 to $138 billion today. By comparison, McDonald's current market capitalization is $140 billion.
This decision was made against the background of the declining price of Bitcoin, due to which mining companies are forced to close due to lack of profit. According to a report, the Norwegian government has announced that the country's cryptocurrency miners will pay the usual electricity tax starting in the New Year.
Ricardo Spagni, a member of the core team and developer of Monero, explained what consequences the Monero network would face if the Bitcoin developers decided to introduce anonymity into the Bitcoin protocol.
A newly discovered vulnerability in the GasToken token, which runs on the Ethereum blockchain, could allow hackers to withdraw funds from exchange hot storage wallets, or even counterfeit tokens for profit.
Bitcoin's steep rise in recent weeks has made traders and investors nervous. Since the spread of the crypto industry has become a global phenomenon in recent years, experts, analysts and ordinary users are trying to predict the behavior of crypto assets.
Today the price has emerged from yesterday’s consolidation and some altcoins even managed to update their lows. But we believe that after the end of the corrective recovery, prices will continue the sideways trend.
Bitcoin-altcoin trading pairs are the reason why the value of altcoins depends on the price movements of Bitcoin. At the moment, the price action is bearish, so altcoins continue to fall.
Saudi Arabia will launch its own cryptocurrency next year, according to Al Zahrani, head of the Saudi Arabian Monetary Fund (SAMA). According to available information, this cryptocurrency is being developed jointly with another oil-rich country - the UAE.
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