Bitcoin’s hashrate has been dropping over the last few weeks after the cryptocurrency endured a major sell-off that saw it lose over 40% of its value over a two-day period. Its hashrate is now down 45% from its all-time high.

Binance is launching its own cryptocurrency-backed debit card. The card will launch its Beta version in Malaysia for now and will soon after be available in Vietnam, before rolling out to the rest of the world.

Block.one has absorbed the team of one of the leading initial block producers on the EOS blockchain, EOS New York. The team will work on community outreach initiatives.

Top stories in the Crypto Roundup today:

• Bitcoin's Hashrate Keeps Dropping, Now 45% Below Its All-Time High
• Binance Launches Beta Version of its New Debit Card
• Block.one Absorbs Team From Now-Defunct EOS Block Producer

At the time of writing, bitcoin (BTC) is trading at $6,702.19 (0.91%) with a daily Top Tier volume of $2.49. As for ether (ETH), it is trading at $136.89 (1.08%) with a daily Top Tier volume of $623.46 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,229.04 (2.08%).

Bitcoin's Hashrate Keeps Dropping, Now 45% Below Its All-Time High

Bitcoin’s hashrate has been dropping over the last few weeks after hitting an all-time high earlier this month when the price of the flagship cryptocurrency was hovering around the $10,000 mark.

Since then the cryptocurrency’s price has been dropping, and on March 12-13 it endured a massive sell-off that took it from a $7,300 high to about $4,000 over the two-day period. The price drop seemingly forced some miners to turn off or redirect their machines, has the network’s hashrate has dropped about 45% from its all-time high so far.

CryptoCompare data shows that after hitting an all-time high of 137 million TH/s, bitcoin’s hashrate has dropped to about 75 million TH/s. The hashrate has likely been dropping because miners are struggling to make a profit because of the high mining difficulty and relatively low price.

Bitcoin’s hashrate has been steadily rising over the last few years are miners are betting on BTC ahead of its upcoming halving event, which will see its block rewards drop from 12.5 ₿ to 6.25 ₿.

The hashrate drop also saw its mining difficulty post its second-biggest drop in history, going to 13.91 trillion (T) from 16.55 T. The biggest mining difficulty drop in BTC’s history was back in 2011, when most people didn’t know what cryptocurrency was.

Binance Launches Beta Version of its New Debit Card

Popular cryptocurrency exchange Binance has announced the launch of its own cryptocurrency-backed Visa debit card, called the “Binance Card.” In an announcement the cryptocurrency trading platform detailed that its goal is to make it easier to pay for goods and services with crypto, thereby taking “crypto adoption one step further.”

The Binance Card will behave like a regular prepaid debit card, except this one will be linked to the user’s account on Binance. It can be topped up with Bitcoin or Binance Coin (BNB) via a specific mobile app created for users to manage their card.

The Binance Card will initially be available as a “virtual card” in Malaysia in April, and soon after will be available as a physical card. It will then be launched in Vietnam, before rolling out to the rest of the world.

The card itself costs a one-time fee of $15, and users can register on the Binance Card website to know when it will be launched on their country. The move comes months after Coinbase launched its own crypto debit card, which allows users to pay with crypto anywhere Visa is accepted.

Block.one Absorbs Team From Now-Defunct EOS Block Producer

Block.one, the firm that developed the EOS.IO software and raised $4 billion in a year-long initial coin offering (ICO), has hired the founders and the team of the once-prominent block producer EOS New York.

According to the organization, the former EOS New York staff will work on community outreach initiatives. Rick Schlesinger and Kevin Rose, founders of the now-defunct block producer, said in a statement:

“In our new role, we plan to listen to and work with communities to leverage Block.one’s digital asset positions to maximize the health and security of various public networks.”

EOS New York was one of the most prominent block producers on the EOS blockchain when it was first launched, but after the cryptocurrency’s governance problems came to light and a new user agreement was passed, new entities started promising token holders a share of the block rewards in return for votes, which saw EOS New York and other block producers lose market share.

The EOS blockchain’s governance has since been questioned various times, with EOS New York at one point detailing it found out six block producers were actually controlled by a single entity.

Block.one itself has been making headlines with the development of its own social network, called Voice.

Flipside Friday

The Flipside Crypto Disparity Ratio is a tool helping you find out which cryptoassets are under and overvalued. The crypto disparity ratio scores cryptoassets based on market capitalization and FCAS ratings, with a score over 1 showing it’s undervalued, and under 1 showing it’s overvalued.

XYO, an ERC-20 token used for a decentralized network of devices that anonymously collects geospatial data, tops the undervalued list with a score of 1.59. It’s followed by the Raiden Network (RDN), an off-chain scaling payment solution to perform ERC20 compliant token transactions, at 1.33.

It’s followed by Polymath (POLY), a blockchain-based system to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. Next comes IoTeX’s IOTX, an ERC20 token used in a decentralized platform of privacy-centric blockchain for vendors to build dApps on.

On the overvalued side we have Qubitica (QBIT), a community of over 1,000 developers, IT companies and investors working to advance blockchain technology. Its community is working on blockchain and AI projects, and the QBIT token represents participation shared in Qubitica and related projects. Qubitica’s value ratio is 0.34.

QBIT is followed by the DxChain Token (DX), the world’s first decentralized big data and machine learning network powered by a computing-centric blockchain. Behind it is Waltonchain (WTC), which resorts to RFID technology to promote blockchain from the Internet to the Internet of Things, creating a unique combination of distributed ledger technology and IoT. As a business eco chain, it ensures data on it is authentic and credible.

Next to it comes Crypterium (CRPT), a cryptobank platform leveraging the Ethereum blockchain to provide an instant processing engine for both fiat and crypto transactions at 0.36.

State of the Crypto by Top Tier Exchange Volume

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