Market Wrap: Bitcoin Dips to $11.1K; Ether Mining Difficulty at Year High
Bitcoin’s price plunged Tuesday while DeFi is giving Ethereum miners more fee revenue, causing difficulty to hit a 2020 record.
Linzhi’s “Phoenix” Ethereum ASIC miner is three times more powerful than other machines on the market, as well as more energy efficient.
Eight of the nine mining projects answering a survey on EIP 1559 had a negative impression of the proposal, with seven saying they would not implement the change.
A small band of Ethereum miners are trying to pick off larger mining pools’ subscribers in a bid to shoot down EIP 1559.
Bitcoin’s price fell on U.S. regulatory pressures while Ethereum miners reaped record fee revenue the past month.
The bitcoin market went bearish as the price dipped while DeFi fees as a percentage of revenue for Ethereum miners is at an all-time high.