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Et tu, Ethereum?! 150 Thousand USD in Several Minutes. Russia: First Crypto Farm beyond the Polar Circle.
Over the last month, we have been watching closely the turbulence of Bitcoin, while traders lost and gained money in the wonderful Ferris wheel of crypto trading. This year, the same situation is developing for the world's second most popular cryptocurrency, Ethereum.
Just this week, Ethereum reached the all-time peak. Overall, in 2020 Ethereum grew by 700% and reached the level of 1400 USD. As usual, not everyone won in this race. After the crazy fluctuations overnight into January 20th, traders lost over 200 mln USD.
The main talk of the town is: will it keep growing? Of course, experts argue on that; they do not come to an agreement on the short-term perspective, but long-term perspectives seem promising. People can decide it for themselves, yet it is necessary to remember that fluctuations and corrections are inevitable, and also keep a close eye on Bitcoin. All the analysts believe that it is one of the most important factors to strengthen Ethereum and help this coin grow on.
Decentralised finances keep surprising A lucky trader managed to buy bitcoins for a price 12 times lower than the market average and earned no less than 150'000 USD.
On January 19th, an anonymous trader (as many traders though) registered an account at a newly-opened Defi platform Saddle.finance, where s/he instantly purchased 4,3 BTC. For some technical errors or blockchain fails, the service sold the covetable crypto for 12 times lower price than the market average.
Therefore, our unknown hero spent 13 thousand USD and in return received Bitcoins that in total were worth 163 thousand USD! Of course, this case is more of a fortunate exception, but we all know those examples when traders got into a rain of gold in sheer hours or even minutes. Yet, there are numerous stories about people who, on the contrary, were far less lucky. The market is always about risks and opportunities.
Norilsk, a mythical town lost in the illimitable space of Siberia, is not so well-known outside Russia. Maybe it will change soon, as this is where enthusiasts opened BitCluster, the first Arctic mining farm.
Norilsk is a great source of precious metals and natural resources: nickel, copper, platinum, gold, silver, cobalt, palladium, etc. etc. This is a harsh unwelcoming land with only 1,5 months of total polar night, 8 months of winter and possible 40 degrees Celcius below zero.
Yet long-term frost is, in a way, a good bonus for crypto miners. Since cooling machines are one of the main expenses for miners, here there are no such problems at all. This is how one of the main minerals and metals sources became a popular site for crypto mining as well.