Tesla CEO Elon Musk, who can reach the widest audience with his comments in the field of Bitcoin and altcoin, shared a tweet at night. The tweet in question made Bitcoin and altcoin investors curious. Here are the details…
“Cryptonight” tweet from Elon Musk
Tesla and SpaceX CEO Elon Musk tweeted only “Cryptonight” at night i shared. No one knows what Musk is trying to convey with his Cryptonight tweet. However, some of the answers under the tweet offer different perspectives. For example, some users argue that Musk wants to write “Kryptonite”. Kryptonite is a fictional, green, crystalline material seen in the Superman series.
Cryptonight
— Elon Musk (@elonmusk) June 15, 2022
On the other hand, a mining called Cryptonight There is also an algorithm. It is also thought that Elon Musk may have mentioned this. As Kriptokoin.com , CryptoNight is a proof-of-work (PoW) hash algorithm originally designed by the Bytecoin and CryptoNote developer teams. It was originally designed to accommodate CPU and GPU mining while also being resistant to ASICs. As an algorithm, CryptoNight can be thought of as something similar to SHA-256, the mining algorithm used for Bitcoin, or Scrypt, the algorithm used in the Litecoin protocol.
CryptoNight was designed as an equitable hash algorithm as it can be computed by CPUs and GPUs, but it is not very practical for use by ASICs. So, CryptoNight is a proof-of-work (PoW) algorithm that was originally implemented on the CryptoNote protocol and has since been forked by projects like Monero and Bytecoin. The CryptoNight algorithm works by requiring access to memory and emphasizing latency dependency.
The latest situation in the prices of bitcoin and altcoins
continues to remain quite negative, especially on a weekly basis. Bitcoin price is struggling below $25,000 against the dollar. BTC is in danger of staying below the $23,000 and $25,000 resistance levels. The largest cryptocurrency is changing hands at $21,101, down 6.4 percent at the time of writing. The second largest cryptocurrency, Ethereum, is trading at $1,113 with a loss of 8.9 percent.
BNB fell 6.9 percent, while Cardano (ADA) fell 5.5 percent. XRP fell 4.5 percent, Solana (SOL) 9 percent, Polkadot (DOT) 2.5 percent. Meme coins such as DOGE and SHIB lost value in the range of 6-9 percent. Among the coins that were among the top 20 by market value, Tron (TRX) was the coin that lost the most value in the 24-hour period. TRX fell 20 percent. Looking at the 7-day value changes, most coins have fallen by 30-40 percent.
