The past few days have been extremely dreadful for the cryptocurrency industry. With the dipping Bitcoin as the precursor, almost all the major cryptocurrencies went plunging. Bitcoin dropped from the height of $58,000 all the way to $45,000. For now, Bitcoin is fluctuating around $47,000. Ethereum fell from over $2,000 to under $1,350. It is currently swinging around $1,500.
Since its inception Bitcoin has experienced nearly 200 significant ups and downs. On four separate occasions, Bitcoin’s price almost reduced to zero. On 50 other occasions, Bitcoin’s price was halved. Anyone who suffered these terrifying losses but still persisted in the crypto industry is experienced veteran hardened by considerable adversities. The reason for the current cryptocurrency plunge can be attributed to the large bubbles in the overheated market. With the current round of pullback, the overall cryptocurrency market will only become healthier. The bull market is not over. The pullback helps the market to get rid of the speculators and retain the true believers. This is in line with the industry’s future development.
The current pullback has cost many people a lot of money. However, one group was barely affected, the miners. The mining industry is the basic infrastructure of the blockchain. Miners are rewarded with coins every day. Even when coin price fluctuates, miners will still obtain the same amount of coins every day. In the traditional secondary market, the total amount of coins collectively controlled by all users is a fixed number. However, the number of coins controlled by the miners will increase on a daily basis. Therefore, when the coin price decreases, the actual risk borne by miners will decrease as the mining output would increases. On the other hand, when the coin price rises, miners will earn a higher return. Therefore, in the blockchain hierarchy, the mining industry stays at the top of the pyramid.
DMEX mining power financial service platform is providing FIL mining service first as it came online. DMEX provides users with mining, NFT backed loan, and other services. Users can participate in HUSD joint mining, HFIL joint mining, and liquidity mining (with USDT/DMC, HUSD/DMC, and HT/DMC as trading pairs) on the platform. At present, the total TVL of the platform exceeds 21 million USD, of which 9.43 million USD is locked in HUSD joint mining with an annualized percentage yield (APY) of 12.35%. 5.1 million USD is locked in HFIL joint mining with an APY of 14.87%. 7.15 million USD is locked in liquidity mining. The HUSD/DMC liquidity mining has an APY of 269.38%. The USDT /DMC liquidity mining has an APY of 271.56%. The HT/DMC liquidity mining has an APY of 223.84%.
As of 17:00 on February 23rd, there are 6969 unique DMC addresses on the DMEX platform. The 24-hour DMC trading volume is 1.4 million U. The DMC price is 0.51 U. The DMEX platform TVL is growing every day. According to the official press release, DMEX’s TVL is expected to break through $50 million in March. While the crypto market is challenged by drastic fluctuations, DMEX liquidity mining is still able to maintain an APY as high as 270%. The fact has proven DMEX as the best choice for both crypto beginners and veterans.
