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Ethereum’s Brutal Downtrend Results in Dwindling Miners’ Interest

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Mon, 10/09/2018 - 14:51
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Ethereum’s Brutal Downtrend Results in Dwindling Miners’ Interest
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Ethereum (ETH) can’t catch a break – after plunging below $200 and reaching an all-time high in short positions, the second biggest cryptocurrency is also experiencing a decline in hash rate. Ether’s current hash rate is currently sitting at 258.644 Thash/s. The coin’s hash rate also directly correlated to its mining difficulty, which dropped by 3.48 percent over the last 24 hours.

In plain English, these figures show that less miners are interested in Ethereum due to the ongoing bearish trend. On the other hand, Bitcoin Cash is slowly rebounding after recently losing more than 37 percent of its hash rate in a single day.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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