BUSINESS & FINANCE

Bitcoin hits $42,580 as cryptos’ cap reclaims $2t mark Monitoring Desk

On Sunday, the cryptocurrency market recovered, with the market capitalization increasing by 1% to reclaim the $2 trillion mark. The largest cryptocurrency, Bitcoin (BTC), gained 0.68 percent to $42,580 as of 12:40 p.m. GMT. With this price increase, the market capitalization of the largest cryptocurrency has risen to $806 billion. Bitcoin has increased by 2.8 percent in the last seven days.

Ether, the world’s second-largest cryptocurrency by market capitalization, increased 0.75 percent to $2,937. With this price increase, the market capitalization of ETH has risen to $345 billion. Over the last seven days, ether has lost 2.5 percent of its value.

Following suit, the price of XRP increased by 9.22 percent to $0.841. With this increase, the market capitalization of XRP now stands at $84.1 billion. XRP has increased by 26.2 percent in the last seven days. Similarly, the price of Cardano (ADA) increased by 0.29 percent to $1.07. With this increase, its market capitalization has risen to $35.2 billion. In the last seven days, ADA has dropped 5.4 percent.

Dogecoin (DOGE) experienced a similar increase in price, rising 7.75 percent to $0.153. DOGE’s market capitalization has risen to $20.3 billion as a result of the price increase. DOGE has increased by 3.8 percent in the last seven days.

Meanwhile, Intel, the world’s largest semiconductor chip manufacturer by revenue, has announced that it will contribute to the development of blockchain technologies by providing energy-efficient accelerators. According to Intel executive Raja M Koduri, the company expects its circuit innovations to provide “1000x better performance per watt” than today’s GPU or SHA256-based mining equipment.

Koduri discussed blockchain technology and the new custom compute group in a blog post. He went on to say that Intel is well aware that some blockchains consume a tremendous amount of energy. According to the Intel executive, the company’s customers want scalable and long-term solutions.

 

 

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