Daily crypto: Markets continue down and ethereum classic will fork

Daily crypto: Markets continue down and ethereum classic will fork.

Image source: Shutterstock / Coinmarkecap

Christian Ploog

christian.ploog@trijo.co

The transaction fees for bitcoin are the lowest in many years, ehtereum classic will fork and the Japanese tax authorities keep track on the crypto millionaires in the country. Here are the latest news from the crypto world.

The fees for sending bitcoin have reached its lowest level in seven years. Today, the median cost of sending bitcoin is $0.11. One reason for this is that fewer people are using the network, Bitcoin News reports.

Ethereum classic will fork

Ethereum classic (ETC) will be forked on Tuesday. This means that anyone using ethereum classic must update their software.

The reason for the fork is that they want to avoid making it unprofitable to mine the cryptocurrency. This is done by removing something called a “difficulty bomb”. A feature that makes it harder to mine the protocol’s rewards will be disabled. If this is not done, it will not be as profitable to mine ethereum classic in a few months, NewsBTC reports.

Many blockchain projects die

A new report from Chinese researchers shows that an average blockchain project dies within less than two years. Since blockchain was invented in 2008, about 80,000 blockchain projects have been launched worldwide, but only eight percent of these are still active, China Money Network writes.

Finally, we note that the Japanese tax authorities have found that 331 crypto investors in the country have made a profit of at least one million dollars through trading during last year, CCN writes.

The red numbers continue

If we look at the markets, there are red numbers for most cryptocurrencies. Among the biggest ones, eos (-6,68%) and bitcoin cash (-4,21%) dipped the most.

The ones who performed the best were dropil (+40.64%) and cybermiles (+15.31%), and the ones who performed the worst were veritaseum (-10.81%) and throne (-8.60%).

Prices the last 24 hours

Tillgång: Kurs: % (24h)
Bitcoin $7 170,56 -0,88%
Ethereum $524,31 -2,11%
Ripple $0,563758 -2,94%
Bitcoin cash $897,06 -4,21%
Eos $11,27 -6,68%

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