Celo Surges By Massive 11% As BTC, Ethereum Drop

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Celo
Celo (Courtesy: Twitter)

In the last 24 hours when the top cryptocurrencies have registered a massive drop, Celo has rose up to 11 percent to be priced at $4.24. The marketcap for Celo is priced based $527,722,856.

Last month, Celo was the highest gainer in the last 24 hours as it grew by 44%. The development makes Celo the highest earner in the past 24 hours which has seen most cryptocurrencies gaining marginally or falling.

The market cap registered by Celo is $514,830,256 while it has been priced at $4.14.

However the development for the drop in the rate of BTC comes after Bitcoin mining difficult went up by 0.59% but it was not enough to push it over the 17 T level, raising the difficulty to 16.95 T. It has however not surpassed it all-time high as the highest was recorded at 17.35T, which the Cryptoverse saw two adjustments, or almost a month ago. It means that the current position is the second-largest BTC mining difficulty in its history.

This is primarily the result of the small drop seen in the adjustment which took place in July, to knock the difficulty level back to 16T.

The mining difficulty of Bitcoin is adjusted every two weeks, in a bid, to maintain the normal 10-minute block time. According to BitInfoCharts.com, it has been moving between 9 and 11 minutes since the previous adjustment, surpassing 10 minutes yesterday.

Miners have spend more of their BTC than generated. When 755 coins more were spent than generated, while the price of bitcoin increased by 4% in the past week and hit USD 12,000 on Monday before correcting lower again.