Bitcoin mining difficulty drops by 9%, and USDT can surpass ETH by capitalization
Bitcoin mining difficulty drops by 9%
The second change in complexity took place on the bitcoin network after the halving. On June 4, the indicator fell by 9.29%, which became the second-largest decline in a year and the eighth in history.
Earlier, on May 20, the difficulty fell by 6%. The decrease of the indicator is caused switching off by the miners, for whom working became unprofitable after halving of the block reward. However, now, thanks to a total decrease in complexity by 15% after the halving, some of them may return to mining.
Against the backdrop of the decline in mining difficulty, the hashrate of the network has already grown by 16% since May 20 and reached 100 EH/s
Bloomberg: USDT can surpass ETH by capitalization
Bloomberg published a forecast for June, according to which the stablecoin Tether may eventually overtake Ethereum in terms of capitalization.
Earlier, USDT has already surpassed XRP and became the third-largest cryptocurrency in the world. At the moment, the gap between Tether and ETH capitalization levels is significant: for USDT, the indicator is $9.25 billion, for ETH — $27 billion. Bitcoin with a value of $180 billion is on the first line in the chart.
Bloomberg analysts note the widespread use of stablecoin and its relationship with the US dollar, which makes USDT a convenient tool for buying bitcoin. In addition, the dollar continues to strengthen against other world currencies, which will also positively affect the Tether token price, experts say.