The PoW Dominance Purge — Only 6 Crypto Assets out of the Top 50 Market Caps Use Proof-of-Work

At the time of writing, only one coin in the top ten crypto assets by market capitalization is a proof-of-work (PoW) token and out of the top 20, there are only three tokens that leverage a PoW consensus mechanism.

Timeline of Bitcoin-cash, Bitcoin, Dogecoin, Ethereum-classic, Litecoin, Monero

A moving average (MA) is a stock indicator commonly used in technical analysis. The post Research: Bitcoin falls below all key moving averages for the fifth time ever appeared first on CryptoSlate.

Bitcoin price nowadays is cemented between re-defined levels as the asset is experiencing equal pressure from both sides. Currently, no positive market sentiments are able to rise the price beyond the pivotal zones, but the FUD or any negative rounds squashes the previous gains in no time.

BTC/USD Weaker Again:  Sally Ho's Technical Analysis – 17 September 2022   Bitcoin (BTC/USD) remained on the defensive early in the Asian session as the pair continued to trade below the psychologically-important 20000 figure after trading as low as the 19500 area.  Following the recent sharp decline, the 20433 area has emerged as an area of consistent technical resistance and is technically related to selling pressure that commenced around the all-time high of 69000.

Quick Take The hashrates of multiple proof-of-work networks such as Ethereum Classic surged to record levels on the day of The Merge. Ether borrow rates have returned to normal levels as speculators unwound their positions. Total ether supply increased due to low network activities despite a 90% reduction in issuance.

SPONSORED POST* Bitcoin and all types of altcoins have had a rough six months but not all digital assets are on an extended downward trajectory. In fact, some are flourishing in the current crypto climate and right now, one coin stands head and shoulders above the competition.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Within the span of two weeks, Ethereum Classic [ETH] witnessed six moves on the price charts that measured more than 10% in magnitude.

Bitcoin price has yet again slumped below $20,000, despite the market sentiments remaining positive before & after the merge. Moreover, after a brief upswing, the prices are expected to drop as the indicators also turn extremely bearish in the longer time frame.

Ethereum moved to a three-week low on Friday, as market sentiment remained bearish following the completion of The Merge. The world's second largest cryptocurrency dropped below $1,500 today, less than 24 hours after the historic migration from proof-of-work (PoW), to a proof-of-stake (PoS) system. Bitcoin also neared a multi-week low.

Following the Ethereum network's proof-of-stake (PoS) update on Thursday, the cryptocurrency Dogecoin (DOGE), which was inspired by memes, is now the second-largest proof-of-work (PoW) cryptocurrency

After a successful Ethereum [ETH] Merge, Ethereum Classic [ETC] traders continued in their quest to profit from the market. However, it seemed that the outcome had been disastrous after there was over $880 million liquidated in less than five hours.