This week, when Coinbase, a company that buys and sells cryptocurrencies. Appeared on the stock market, it surpassed companies such as British Petroleum. As soon as the shares were listed in the market, their value exceeded $100.
Cryptocurrencies, especially bitcoins, were cracked down on in China’s Xinjiang region.
But the dark side of a government-sponsored cryptocurrency is that you can’t predict the value of the digital currency for the next minute.
In the last 24 hours, the cryptocurrency market has fallen from 2 2.2 trillion to 9 1.9 trillion, according to Coin MarketCap, a website that publishes cryptocurrency statistics. In other words, in less than 24 hours, bitcoins worth 300 300 billion flew around the world.
According to the report, a crackdown was carried out against corrupt currency. Especially bitcoin, in the Xinjiang region of China yesterday. Xinjiang is considered to be the largest center of the bitcoin mining network in the world.
After this crackdown, bitcoin mining has been reduced from 215 exam hashes per second to 120 exam hashes per second. Which wiped out 300 300 billion in less than a day.
Some days ago, The market value of Coin Base, a company that buys and sells cryptocurrencies. The value has exceeded 100 dollars since it was listed on the stock exchange.
Coinbase’s listing in Nasdaq is being seen in the context of the growing interest of traditional investors in cryptocurrency and investing in digital currency. The US company has been buying and selling Bitcoin, Litcoin, Ethereum, and other cryptocurrencies since 2012.
More than 56 million users in more than 100 countries are using CoinBase to buy and sell digital currency. The market value of Coinbase has surpassed that of British Petroleum and others like it.
Bottom Line
The price of a bitcoin has exceeded $62,000 (approximately Rs. 9.5 million), while Alan Musk, owner of companies such as SpaceX and Tesla and the world’s second-richest man, has also recently invested heavily in cryptocurrencies. ۔ As a result, the prices of these digital currencies are on the rise.
