The Bitcoin mining difficulty, which measures the ease of discovering a block on Bitcoin, is set to reach a new all-time high.
May 30, 2023 | | | | Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $27,687 | Bitcoin price continues to trade just under the $28,000 mark over the last 24 hours, tapping resistance at the level once again early this morning. | Top-20 altcoins have had mixed performance as Ether and BNB each move less than 1%, XRP soars 8% and Polygon falls 3% over the last 24 hours. | Top Stories for May 30, 2022 🔥 | | The Bitcoin mining difficulty, which measures the ease of discovering a block on Bitcoin, is set to reach a new all-time high of over 50 trillion on Wednesday. | This increase has been driven by the rising price of Bitcoin and the growing popularity of the Ordinals protocol, which has made mining more profitable. This has led to transaction fees that are three times higher than normal, contributing to miners' revenue. | Miners are deploying more mining machines, resulting in increased computing power and record difficulty levels. | | Optimism and Sui are set to experience significant increases in their circulating supply of tokens due to upcoming unlocks. | Optimism's unlock will release 387 million tokens worth $590 million, representing a 114% increase in circulating supply. The tokens will be distributed among core contributors and investors. | Sui, on the other hand, will have a smaller unlock of 61 million tokens worth $62 million, increasing its circulating supply by 13%. Unlike Optimism, the Sui tokens will be airdropped to retail users as part of its community access program. | | Stablecoin issuer Tether has announced its plans to launch Bitcoin mining operations in Uruguay. The company aims to collaborate with a local licensed company and invest in the country's energy production. | Tether intends to utilize renewable energy sources for sustainable Bitcoin mining and will hire additional team members for this venture. The move aligns with Tether's commitment to renewable energy and its goal of minimizing the ecological footprint of its mining activities while maintaining the security and integrity of the Bitcoin network. | | Today on Milk Road: Market movers: winners & losers, 3 things to watch this week, and these metaverse projects are down 90%. | |
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