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ZEC Falls Below $380
According to Bitget, Zcash (ZEC) briefly fell below $380, currently trading at $382.62, marking a significant decline of 15.24% within 24 hours amidst considerable market volatility. Investors are advised to manage their risks accordingly as the market continues to fluctuate.
"Please manage your risk accordingly." - Bitget
Key Takeaway: ZEC has experienced a sharp decline, currently at $382.62, reflecting a 15.24% drop in 24 hours.
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Bitcoin Mining Difficulty Decreases
The Market Periodical reports that Bitcoin mining difficulty has decreased by 1.20%, now standing at 146.7T. This decline is attributed to a consecutive drop in the Bitcoin hashrate, which fell by 3% in December to an average of 1,045 EH/s, indicating that some miners are shutting down their machines due to profitability challenges.
Furthermore, the average daily rewards for miners have decreased by 7% from November to December, with earnings now at $38,700 per EH/s, a 32% drop year-over-year, marking the lowest recorded value. The gross profit has also fallen by 9% to $17,100 per EH/s.
Despite these challenges, the decrease in mining difficulty could potentially make mining easier in the near future, with predictions suggesting a further decline to 145.95T in the upcoming weeks.
Key Takeaway: Bitcoin mining difficulty has decreased to 146.7T, with a significant drop in hashrate and miner earnings, indicating ongoing challenges in the mining sector.
Launch of cashZ by Zcash Wallet Developers
InvestX.fr reports that the developers of the Zcash wallet Zashi have launched a new startup called cashZ. This strategic move comes after internal disagreements regarding governance and the future direction of the Zcash project. The new entity aims to operate independently from Bootstrap, the organization that has historically coordinated Zcash development.
The introduction of cashZ is expected to enhance the development team's autonomy, allowing for accelerated innovation and new features without the constraints of Bootstrap's decision-making processes. However, this restructuring raises questions about the future coordination of the Zcash protocol, as Bootstrap has played a central role in its technical development.
Key Takeaway: The launch of cashZ marks a significant shift in the Zcash ecosystem, potentially leading to increased innovation while raising concerns about future governance and coordination.
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