Bitcoin Network Difficulty Registers Largest Drop In History – July 5

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $34,333

Bitcoin price made a run back above the $35,000 mark over the weekend, now sitting back in the $34,000s once again to begin the week.

Top-20 altcoins have traded almost flat over the last 24 hours, as Ethereum drops just 1%, Cardano remains unchanged and Internet Computer is the largest mover with a 6% fall.

Top Stories for July 5, 2021 πŸ”₯

πŸ‘‰ Bitcoin Network Difficulty Registers Largest Drop In History

The Bitcoin networks difficulty rate – the complexity level of the mining algorithm – has registered its largest drop ever, with a 28% decrease.

Potential factors contributing to the adjustment include China’s recent crackdown on cryptocurrency mining, as miners shut down or relocate to new jurisdictions.

The difficulty drop was even greater than estimates published last week, which forecasted a 20% change.

πŸ‘‰ Wyoming Approves First Legally-Recognized DAO In The US

The state of Wyoming has approved its first legally-recognized Decentralized Autonomous Organization (DAO) – also the very first in the US.

The American CryptoFed DAO, established by mobile banking company mSHIFT, was approved on July 1. The DAO’s mission is to promote a two-token economy that is immune from inflationary influences.

πŸ‘‰ Former Cryptopia Employee Pleads Guilty To Theft Of Crypto Worth $170K

A former employee of defunct cryptocurrency exchange Cryptopia has pled guilty to charges of stealing more than $171,000 worth of crypto.

The unnamed employee had created copies of the exchange’s private keys and saved them to a USB drive, later uploading the data to his personal computer.

Cryptopia is currently in liquidation, following a hack that resulted in the loss of over $17 million worth of customer funds.