Big Bitcoin miners are not yet ready to capitulate
Kristy-Leigh Minehan, an independent consultant for mining farms, told Crypto Briefing that, contrary to popular belief, the demand for mining hardware exceeds the offer. Large mining farms are actually looking to take advantage of market conditions.
During price corrections, they accumulate as many cryptocurrencies as possible, with the intention of selling with the recovery of the market. Minehan said many are following the “cheap mine, I sell at a great price” strategy.
It is true, however, that smaller players in the crypto mining market are affected by price fluctuations. However, larger mining farms are likely to purchase smaller farms for their resources.
For the moment, Bitcoin is continuing its upward trend started yesterday and has exceeded $ 6500. The cryptocurrency reached $ 7,136 during the day and currently has an increase of 20% in 24 hours.
OKEx launches C2C loan services
The OKEx exchange enters the DeFi world by launching the C2C loan function. According to the director of financial markets, Lennix Lai, this will create an “open and transparent market for matching inactive demand and supply of capital.”
The concept of decentralized finance – What is it and what does it mean?
According to an announcement on the company blog, the C2C loan feature will allow individuals to trade directly and respond to the various loan and investment requests of its users. To access this new feature, users will need to update the OKEx application to the latest version. The main page will display the “C2C Loan” button.
In order to borrow money, users must offer BTC as collateral. The loan will be repaid in USDT, and OKEx has stated that other cryptocurrencies will be offered in the future.
Borrowers can choose the rates they want to pay and how long the loan will last.
Ethereum’s largest US miner, CoreWeave, has announced it will redirect the processing power of 6,000 GPUs to research to find coronavirus therapy.
These GPUs will be used in the project [email protected] home from Stanford University. This is a research project launched on February 27 to identify a treatment for coronavirus. The basic idea is to connect thousands of computers around the world to form a distributed supercomputer for complex computations.
CoreWeave co-founder Brian Venturo said:
“Their research has had a profound impact on the development of first-line drugs against HIV. We hope so [puterea noastră de calcul] will help in the fight against coronavirus ”.
Banks in Venezuela closed by order of President Maduro
To combat the coronavirus outbreak in Venezuela, President Nicolás Maduro ordered the entire country to be quarantined. Maduro also shut down the national banking system, and regional authorities banned gas sales.
Develop your knowledge during the pandemic! Probably the greatest opportunity to learn new things!
On March 15, Sudeban’s financial regulatory authority ordered banks to continue offering online services. Unfortunately, citizens have no opportunity to withdraw money from ATMs because of monetary restrictions.
Meanwhile, peer-to-peer cryptocurrency exchanges have reported a new increase in trading volumes from Venezuela. These include Localbitcoins, BCH market of Bitcoin.com, local.Bitcoin.com and Hodlhodl.
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