Crypto Mining Report(13th — 20th May)
We analyzed the mining difficulty change of 7 mainstream coins over the past week. This is the third mining report, it will help you to get a better understanding about the mining industry.
The graph shows the difficulty change in 7 coins from the 13th May to 20th May. It has taken from the website: https://bitinfocharts.com/.
Over the last week, there was zero growth for Bitcoin difficulty, while the ZEC and ETH have been growing by 7.43% and 5.59%. As you can notice that the mining difficulty for DCR went down by 16.26%.
The correlation between Tether and Bitcoin price
The Tether is a controversial cryptocurrency. The company behind the currency, Tether, claims that 1 Tether is equivalent to $1, but this is not always the case.
When Tether issues or destroys USDT, its price against the US dollar will fluctuate. The following chart illustrates significant changes in USDT supply and its correlation with bitcoin prices.
From the chart, it is clear that the Tether supply has a negatif correlation with Bitcoin price. On 5th April and 26th April, when the new Tether was supplied, the Bitcoin price has been declining, then went up.
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