What kind of altcoins should you mine? (Platform with the most altcoins)

08/16/2023 13:33 • NFT Newsflash • 103 views

What kind of altcoins should you mine? The mining difficulty of Bitcoin and Ethereum increased significantly at the end of last year, but with the decline in coin prices, many people are worried that altcoins will continue to plummet. Some investors believe that the price of cryptocurrencies fluctuates greatly and there is a significant misunderstanding about the prices. They say, “Bitcoin is currently the most easily manipulated thing in the market, so we see it as a risky asset.”

However, in reality, due to the downturn in the cryptocurrency market and the increasing understanding of the industry, many people attribute this to the terms “mining” and “decentralization”. This is not a new concept. People have already realized that mining altcoins for high returns is very risky because it usually requires a significant amount of resources such as manpower, materials, and time costs to achieve this goal. “Without sufficient technical capabilities or financial support, it is impossible to conduct large-scale applications or just mine for the sake of making money, which leads to speculative investments.” This is common knowledge. In addition, most people believe that “altcoins are not investment products,” so many investors do not buy into it. In fact, many people know that the value of altcoins lies in their enormous potential, and there are also many unknown companies involved, such as Google, etc.

However, these companies do not really have any technological background. Instead, they utilize their network effects to create a new form of digital economy. They even claim to be leaders in the blockchain industry and successfully develop their own applications, including DeFi protocols. (Cointelegraph)

Platform with the most altcoins

According to Bitcoin news, the CEO of the cryptocurrency exchange Kraken stated, “Bitcoin’s trading volume on this platform accounts for over 15% of the total platform volume. From February 2018, we have consistently maintained relatively high trading volumes and reached the highest levels. Since mid-March this year, the total trading volume has exceeded $1.5 billion.” Additionally, according to data from CoinMarketCap, Kraken currently has the most altcoins on its platform, with a daily active user count of 40,000. At the same time, it is also the decentralized exchange (DEX) with the highest trading volume.

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What kind of altcoins should you mine? (Platform with the most altcoins)

Platform with the most altcoins

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