Snowfall Protocol Offering More Attractive Returns as Bitcoin Mining is at its Most Difficult
Cryptocurrencies offer multiple opportunities to make a yield from the industry. Most choose crypto trading, staking, yielding, and other approaches that provide flexible strategies. However, they all come with their risks. One of the more reliable and relatively risk-free approaches is crypto mining.
Crypto mining allows miners to earn money in native crypto tokens by making blockchain infrastructure available for transactions to crypto users. Different cryptocurrencies reward their miners at different rates for their blockchain infrastructure. These rates vary with several factors like the number of users, transaction volumes, available tokens, etc. On January 15, Bitcoin’s mining difficulty became the highest in history.
Bitcoin Mining Difficulty Shoots Up 10.26% to 37.73 trillion Hashes
On January 15, Bitcoin mining difficulty hit an all-time high of 37.73 trillion at block height 772,128. In other words, miners need 37.73 trillion hashes or attempts to find a valid bitcoin block reward. The previous all-time-high record was 36.76 trillion, which the crypto attained on November 6, 2022. What’s surprising this time around is that the mining difficulty not only hit a new high but did it by jumping 10.26% in a single day. This rise sits firmly on the same level as the October 10, 2022, mining difficulty rise when it shot up by a staggering 13.55% in a single day.
As bitcoin mining difficulty increases, miners’ rewards have dropped substantially, making it less rewarding to mine bitcoins. Fortunately, bitcoin is posting a strong rebound after finding support at $16,000. If the token manages to recover the value it has lost over the past year, bitcoin miners can still squeeze out some profits from the rising prices of their mined token. However, that is a big “if”.
Snowfall Protocol (SNW) is Offering a 5,000% Growth Potential
Snowfall Protocol (SNW) is an interoperability token that connects siloed blockchains and creates an internet of cryptocurrencies. While Snowfall Protocol (SNW) is yet to launch, it has already raised over $3 million in multiple presale phases. The Snowfall Protocol (SNW) token was originally distributed for $0.065 per token during the first presale event. By the time of stage 3 presale, Snowfall Protocol (SNW) hit $0.191. Given the high demand for the coin, analysts expect a sharp 5,000% increase in its price by mid-year. In its strongest sign of healthy growth, Snowfall Protocol (SNW) posted a 34% growth in value yesterday.
Although the crypto is yet to launch, the founders have published a beta dApp to showcase Snowfall Protocol’s (SNW) capabilities, which led to a sharp increase yesterday. The token is expected to maintain its momentum until at least the weekend.
Besides the staking, yielding, and lending earnings, Snowfall Protocol (SNW) offers healthy transaction fees to miners who supply blockchain infrastructure to Snowfall Protocol (SNW) besides the staking, yielding, and lending earnings. So, miners, too, stand to make massive yields from mining on Snowfall Protocol (SNW).
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