Bitcoin Trivia of the Day
A Bitcoin network is faster than the fastest supercomputer in the world! The Summit, which is the world’s fastest supercomputer has a processing power of 122.3 petaflops. It is a quadrillion floating-point operations per second. That’s not even fast for the Bitcoin network with 80, 704, 290 petaflops of processing power. Want to be one of the fastest rising millionaires alive? Invest in the world’s most in-demand cryptocurrency. Register for free now!
Crypto exchange giant Binance’s BUSD stablecoin has extended its recent declines, amid mismanagement issues involving the exchange’s pegged tokens that surfaced earlier this month, and other debacles.
BUSD’s circulating supply fell to $15.4 billion on Wednesday, paring down $1 billion over the past week and $2 billion in a month, according to cryptocurrency price tracker CoinGecko. The latest drop extended BUSD’s decline from $22 billion in early December when anxious users scrambled to withdraw funds from Binance after it botched a report about its digital asset reserves.
The overall market capitalization of stablecoins fell for a 10th consecutive month in January to $137 billion, according to a report by research group CryptoCompare. Stablecoin dominance within the broad cryptocurrency market dropped to 12.4% from its all-time high of 16.5% in December, suggesting traders have been rotating from stablecoins into riskier assets, CryptoCompare said.