CoinLoan Weekly: Marathon Eyes at 600% Rise in Hash Rate

WeeklyDec 28, 2021
CoinLoan Weekly: Marathon Eyes at 600% Rise in Hash Rate

Price Dynamics

BTC Price

Last week, the BTC price rose above $50,000  and broke through $51,000. However, the leading cryptocurrency failed to stay above this level.

Bitcoin pulled the rest of the market with it. The top 10 Digital assets by market capitalization closed the week in green.]

BTC Price Chart. Source: CoinGecko
BTC Price Chart. Source: CoinGecko

As of December 27, Bitcoin is trading at $50,827, with a 24-hour change of +1.5% and a 7-day change of +8.7%

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ETH Price

Similar to Bitcoin, Ethereum moved upwards. The spike of BTC price on December 23 led to other cryptos following the trend, including ETH – it reached $4,157 but failed to keep the momentum.

As of December 27, Ethereum is trading at $4,06, with a 24-hour change of +0.1% and a 7-day change of +3.4%

ETH Price Chart. Source: CoinGecko
ETH Price Chart. Source: CoinGecko

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XRP Price

XRP also experienced a surge in value. The coin has been struggling to surpass the $1.00 mark. Last week it managed to achieve a $1.02 mark. However, it later fell to $0.91 and stayed at this level until Sunday.

XRP Price Chart. Source: CoinGecko
XRP Price Chart. Source: CoinGecko

As of December 27, XRP is trading at $0.92, with a 24-hour change of 0.0% and a 7-day change of +10.3%.

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Cryptocurrency News

Marathon Eyes at 600% Rise in Hash Rate

US mining company Marathon Digital Holdings has signed a contract with Bitmain to order a record quantity of BTC mining equipment Antminer S19XP.
According to the delivery schedule, the buyer will receive the ordered units between July and December 2022.

Marathon plans to upgrade some of its equipment. The company expects to have a total of approximately 199,000 Bitcoin miners with an aggregate hash rate of about 23.3 EH/s after deploying freshly purchased Antminers.


Disclaimer:
The information provided by CoinLoan ("we,” “us” or “our”) in this report is for general informational purposes only. All investment/financial opinions expressed by CoinLoan in this report are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this report.

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