Market Stabilizes as Demand for GPU Mining Increases with the Upcoming Launch of a New Coin
Weekly Update
The Global Crypto Market Cap is down by 1.48% to $848.89B at the time of writing this article. Over the past 24 hours, the overall volume of the Cryptocurrency Market has decreased by 26.79% to $33.41B.
DeFi’s total 24-hour volume is $1.74B, or 5.21% of the overall Crypto Market volume. All Stablecoin volume is currently $30.93B, or 92.60% of the 24-hour volume of the whole Crypto Market. DeFi’s and Stablecoin’s total 24-hour volume has remained the same since last week.
Bitcoin was trading at $17,408.02 at the time of writing. According to data from CoinMarketCap, Bitcoin’s dominance is currently 39.43%, a decrease of 0.17% from the previous day. In the last 24 hours, the price of ETH decreased by 1.77% to $1,269.64, while the price of BNB went down by 1.56% to $261.33.
Since the past few weeks, the Market has improved, and predictions of the end of the extended Crypto Winter may be coming true.
Why is the Demand for GPU Mining Increasing again?
People have been Mining Bitcoin with ASICs for the past few years solely for the high profits it provides. The profit potential of ASIC Mining has not only attracted investors from all walks of life, but it has also given birth to technological advancements in the Mining space, such as the revolutionary Remote Bitcoin Mining. As a result, many investors preferred Mining Bitcoin with ASICs over Mining Altcoins with GPUs.
Mining Altcoins have historically provided lower returns to investors, resulting in lower demand to mine them. However, with the upcoming mainnet launch of the much-anticipated Aleo Coin, there has been a significant increase in demand for GPU Mining. Aleo has already proven to be superior to its competitors, with over $290M in funding from major investors, answering the question of is Aleo Mining the most profitable GPU Mining Coin. Aleo is still in the testnet 3 phase, and a mainnet launch is expected soon. Profit potential after the mainnet launch for miners Mining today could be over 250%, making it the most anticipated mainnet launch for miners. Aleo has the potential to be the most profitable GPU Mining coin for early adopters, but most investors who don’t understand Mining face difficulties in Mining Aleo. However, with technological advancements in the Mining industry, this barrier is expected to be overcome in the near future.
