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In recent days, the cryptocurrency market has plummeted. Since the beginning of May, the price of Bitcoin has fallen by 25%, while the price of Ethereum has fallen by 30%. Many cryptocurrencies have fared significantly worse – Terra Luna is down 99.9% after its TerraUSD stable coin lost its dollar peg.

While many crypto investors are experiencing short-term discomfort, now is an excellent time to purchase the crypto plunge. The cryptocurrency market has seen previous collapses, and each time it has recovered stronger. After crashing in the spring of 2021, Bitcoin stormed back later that

The Ethereum price is now experiencing huge downtrends, which has investors concerned

That Ethereum will be in a slump in 2022. When Bitcoin achieved its peak value in 2021, the cryptocurrency reached new all-time highs. However, since the market crash in the fourth quarter of 2021, Ethereum has been plagued by extreme volatility difficulties.

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Ethereum, which debuted in 2015, is the second-largest cryptocurrency by market capitalization, after only Bitcoin. However, unlike Bitcoin, it was not designed to be a digital currency. Instead, Ethereum's creators set out to create a new kind of global, decentralised computing platform that takes the security and openness of blockchains and applies them to a wide variety of applications.

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Amidst the ongoing war between Russia and Ukraine, the cryptocurrency market has gained prominence. Cryptocurrencies including Bitcoin and Altcoins (Ethereum) are experiencing price spikes.

Ever since the advent of cryptocurrencies, various mining pools have also emerged and kept growing in number, even though the mining power was at its lowest ebb. But it soon bounced back with an all-time high as mining activity shifted to other crypto hubs like the USA and Kazakhstan. At the same time, the difficulty of mining has also increased. Let’s delve deeper into what cryptocurrency mining is and how competition has increased in the field.

Ever since the advent of cryptocurrencies, various mining pools have also emerged and kept growing in number, even though the mining power was at its lowest ebb. But it soon bounced back with an all-time high as mining activity shifted to other crypto hubs like the USA and Kazakhstan. At the same time, the difficulty of mining has also increased. Let’s delve deeper into what cryptocurrency mining is and how competition has increased in the field.

Ethereum whales have been quite busy recently, transferring almost $1.3 billion in ETH in the previous week while the price increased by 25%.

On the strength of recent Bitcoin advances, the leading altcoin led the market rebound. As the market positive trend seemed to gather steam, Ethereum, the second-largest cryptocurrency by market size, eventually broke beyond the $3000 psychological barrier.