Dogecoin Surges 20%... Electric Car That Mines Cryptocurrency Emerges
Ethereum Mining Profits Surpass Bitcoin
[Asia Economy New York=Correspondent Baek Jong-min] Dogecoin led the rise in cryptocurrencies by showing strong performance.
According to CoinMarketCap on the 2nd (local time), Dogecoin is trading at 41 cents, up 20% compared to 24 hours ago. The announcement by Coinbase, the largest cryptocurrency exchange in the U.S., that it will start trading Dogecoin boosted the price. Coinbase decided to allow Dogecoin trading to all customers but only apply it in the 'Pro' version.
On the same day, Coinbase's stock price also rose by 0.6%.
Bitcoin, ranked first in market capitalization, is trading at around $37,700, up 3.8%. Ethereum, ranked second, rose 6% and is trading around $2,700.
Since Bitcoin prices have fallen sharply in May, the fortunes of Bitcoin and Ethereum miners have diverged.
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According to investment media Benzinga, Ethereum miners earned $2.35 billion in May. Bitcoin miners' earnings were $1.45 billion. This is the second time in the past year that Ethereum mining revenue has surpassed Bitcoin's.
Canadian electric vehicle company Daymak announced that its Spiritus vehicle, to be released in 2023, will be able to mine Bitcoin, Ethereum, and Dogecoin while parked. Additionally, the company declared that it will accept Bitcoin, Ethereum, and Dogecoin as payment for the vehicle.
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