Top Three Crypto News Stories of the Day
On December 25, the Bitcoin network hit an all-time high mining hash rate of 544 exahashes per second, indicating a significant increase in BTC’s price trajectory. Bitcoin evangelist Max Keiser suggested an implied hash-adjusted price for BTC that exceeds $400,000, sparking speculation about potential price models. This has put pressure on miners dealing with a dip in profitability due to elevated operational costs. The simultaneous spike in hash rates and BTC price is posing a challenge for the mining community.
Tron founder Justin Sun raised concerns when he withdrew a substantial amount of Ethereum from Binance crypto exchange. The transaction, marked as “suspicious Justin Sun related,” has sparked speculation among the crypto community, with many questioning the motives behind such a significant withdrawal. Sun’s withdrawal of SHIB tokens from Binance has added to the intrigue surrounding his crypto activities, prompting close scrutiny from the crypto community.
Elon Musk’s recent cryptic post, which consists of “1” and “8” symbols forming the logo of the X platform, has gained widespread attention in the crypto community. The post has sparked curiosity among various crypto communities, including XRP, SHIB, and DOGE, with many attempting to decipher the hidden meaning behind the message. Despite the efforts of these communities to engage Musk’s attention, he remains indifferent and uninterested in altcoins.
This article was originally published on U.Today
