Monat: Januar 2021

The fundamentals of the Bitcoin and Ethereum networks appear to remain strong despite the recent drop in prices.

The hash rate of both has recently reached a new record high.

The number of active addresses and those holding more than 1,000 BTCs is also on the rise.

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Bitcoin and Ethereum still appear to have strong fundamentals despite the recent drop in prices. Both networks have just reached record hash rates and it seems that their use is increasing.

The hash rate is reaching record highs while BTC and ETH prices are declining, losing some of their gains so far in 2021. Clearly, price volatility has not deterred miners from supporting either of these two networks.

Crypto prices are falling but fundamentals remain strong

The first two weeks of 2021 were a roller coaster ride for investors in crypto-currency. Bitcoin and Ethereum both started the year by continuing on their rallies that began in late 2020.

Bitcoin broke the $30,000 mark on January 2 and continued to climb until reaching a new historical high on January 8, just under $42,000. Meanwhile, ETH reached a high of about $1,350 after opening the new year at less than $750.

However, the upward momentum came to a sudden halt on Sunday, January 10. By Monday, January 11, the BTC had fallen to about $31,700 and ETH was trading below $1,000 again.

Despite a 25% drop in prices, the fundamentals of the networks remain solid. As reported in the weekly „State of the Network“ report by Coin Metrics, some measures of the strength of cryptomoney continued to increase.

In particular, the hash rates of Bitcoin and Ethereum have reached record levels. The hash rate refers to the combined power of all mining equipment securing a blockchain network.

An increasing hash rate indicates that miners continue to deploy equipment on the network in the hope of future profits. This suggests that both Bitcoin and Ethereum miners remain confident, even in the face of a significant drop in prices.

Bitcoin and Ethereum hash rates are both at all-time highs.

Read more in this week’s State of the Network:https://t.co/728k0Ueshl pic.twitter.com/nYjrAXT9e1
– CoinMetrics.io (@coinmetrics) January 12, 2021

The increase in Bitcoin’s hash rate appears likely to continue, with major operations planned for expansion this year. As BeInCrypto has already reported, several U.S. mining companies have recently placed massive orders with the mining platform manufacturer Bitmain.

The equipment that Marathon Patent Group and Core Scientific have ordered will not arrive before the end of the year. This delivery will significantly expand each company’s existing operations.
The active addresses of Bitcoin and Ethereum are also on the rise.

In addition to hash rates at their highest level to date, the Coin Metrics report also highlights the growth of active BTC network addresses such as ETH. The number of addresses trading on both networks is approaching the highs set during the bull market of 2017.

However, Coin Metrics points out that active addresses do not provide a clear picture of the growth in network usage. This is due to the fact that many users of cryptosystems prefer to use multiple addresses. An address does not necessarily correspond to a single user.

However, the research company wrote :

„Bearing this in mind, active addresses are nevertheless a good indirect indication of overall usage. The increase in active addresses for the BTC and ETH indicates that on-chain activity is increasing for both networks“.

In addition, Coin Metrics points to an increase in the number of addresses holding 1,000 or more BTCs. Used as an indicator of Bitcoin’s institutional adoption, these „whale“ addresses have increased significantly since the beginning of 2021.

Inspired by Michael Saylor’s purchases of BTCs for his company MicroStrategy, the end of 2020 saw several financial institutions and companies taking a position in the Bitcoin market. Many industry observers expect this trend to continue into 2021.

MicroStrategy will host an online event next month entitled „Bitcoin and Corporations“. The business analytics company will explain how it has taken

How cryptocurrencies can help alternative medicine

The alternative medicine market is booming. With projections indicating that the industry is on track to reach a value of $296.3 billion by 2027, cryptocurrency investors should take notice.

There is huge potential in the merger of alternative medicine with the crypto industry to intensify the success of both initiatives. Alternative medicines face regulatory challenges that make many other Bitcoin Capital payment methods inconvenient, which means this booming economic sector could use crypto solutions – and with the right pairing, good returns can be made.

The use of cryptocurrencies in the purchase and financial management of alternative medicines can bring benefits to all parties involved. To achieve these benefits, however, it is necessary to understand the industry and the potential of cryptocurrencies.

Alternative medicines and payment problems solved with cryptocurrencies

Alternative medicines are some of the oldest and most popular forms of health treatment and include a range from acupuncture to herbal remedies. Despite their long history of acceptance and use in cultures around the world, regulations in some countries make it difficult to manage these products financially.

Trade has been a perfect example of how such regulations undermine the alternative medicine industry. Used for hundreds of years as herbal remedies, they have supposedly helped users manage pain and experience other positive benefits. However, alternative medicine is not considered beneficial in some jurisdictions.

The US Food and Drug Administration (FDA), for example, has issued warnings on the import and use of alternative medicines, resulting in the industry being blacklisted by many major financial institutions. This puts vendors in the precarious situation of having to manage offshore trading accounts.

With their decentralised, private and secure systems, cryptocurrencies operating on secure blockchains offer a solution to the many problems surrounding technology-based financial systems.

Cryptocurrencies may be the perfect tool to allow the alternative medicine industry to flourish. Investors, entrepreneurs and alternative medicine providers should keep in mind the benefits offered by blockchain-based payment systems and consider adopting them.

The benefits of cryptocurrencies in alternative medicine

It is also important to note the added value that cryptocurrencies can bring to the entire alternative medicine sector. For industries like cannabis and CBD, cryptos offer the kind of flexibility, security and connectivity that average consumers and established businesses need to capitalise on financial opportunities.

Here’s just part of what crypto and blockchain systems can introduce to transactions in the alternative medicine sector:

Flexibility and ease.

The future of commerce relies on cloud technologies. With most companies stating that 80% of their applications will be cloud-based by the end of 2020, alternative medicine providers need to adapt to these technological trends with comprehensive payment systems.

With decentralised blockchain-based payments, currencies can be registered, converted and processed almost instantly without the risk of fraud and rejection, as is the case with traditional payment methods. This level of ease is necessary for continued growth in the complex field of alternative medicine.

Security and transparency.

The world faces a substantial threat from counterfeit medicines. In some countries, up to 40 per cent of all medicines and medical equipment are counterfeit, creating major security risks for their users. The blockchain has the potential to solve this problem.

With the power of blockchain, it is possible to integrate smart labels and traceability into shipping processes for both traditional and alternative medicines. This offers greater security and transparency to the industry as a whole, increasing consumer confidence through verified products and procedures. Simply add a cryptocurrency on the same network and you have a solution that ensures the purchase process works smoothly.