After the Bitcoin correction that began midday UTC Dec 17th and took 40% of the BTC value in a mere 5 days, almost the entire altcoin market followed suit and fell firmly into the red. With BTC back on the rise, we are now seeing the strong coins rapidly climb back out of their price dips. Gridcoin has been leading the recovery, overtaking the rates of all coins in the top 20 by market cap except Verge, itself positioned 18th.
It would appear Gridcoin has finally made it to a baseline where even on old hardware all miners can comfortably turn a profit. This is fantastic news for the research sector as now power costs are no longer a concern. This should draw a lot more compute power to the BOINC projects through which GRC is mined.
The Gridcoin network is welcoming increasingly large numbers of research miners on a daily basis, so the competition is only going to increase. Coupled with the GRC rain projects have been generating to support their workforce and the introduction of external pools, I expect significant further rise in the GRC price across 2018. Hold onto those coins.
We are all at the forefront of something miraculous, re-purposing the wasted cryptocurrency compute cycles towards advancing humanity. Together with BOINC, we are going to achieve amazing things.
Content Credit:
