Daily Times

The cryptocurrency market bounced back on Sunday, with the market capitalisation gaining one percent to reclaim the $2 trillion mark. As of 1240 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price gained 0.68 percent to reach $42,580. With this increase in price, the market capitalisation of the biggest crypto has reached $806 billion. Bitcoin gained 2.8 percent during the last seven days.

Ether, the world’s second-largest cryptocurrency by market capitalisation, edged up by 0.75 percent to reach $2,937. With this increase in price, the market capitalisation of ETH has reached $345 billion. Ether has shed 2.5 percent of its value over the last seven days.

Following suit, XRP price jumped 9.22 percent to reach $0.841. The market capitalisation of XRP stands at $84.1 billion with this increase. XRP has gained 26.2 percent during the last seven days. Likewise, Cardano (ADA) price inched up by 0.29 percent to hit $1.07. Its market capitalisation has reached $35.2 billion with this increase. ADA shed 5.4 percent in the past seven days.

Similar was the case with Dogecoin (DOGE) whose price increased by 7.75 percent to reach $0.153. With this increase in price, the market capitalisation of DOGE has reached $20.3 billion. DOGE has gained 3.8 percent during the last seven days.

Meanwhile, the California-based technology company and the world’s largest semiconductor chip manufacturer by revenue, Intel, has revealed that the company will contribute to the development of blockchain technologies by offering energy-efficient accelerators. Intel executive Raja M Koduri explained that the company expects its circuit innovations will deliver “1000x better performance per watt” than today’s GPU or SHA256-based mining equipment.

Koduri in a blog post discussed blockchain technology and the new custom compute group. He explained that Intel is fully aware that there are some blockchains that translate to an immense amount of energy. The Intel executive said that the company’s customers are asking for scalable and sustainable solutions.

In order to bolster these concepts, Intel has formed a new custom compute group within the company’s Accelerated Computing Systems and Graphics business unit. “The objective of this team is to build custom silicon platforms optimised for customers’ workloads, including blockchain and other custom accelerated supercomputing opportunities at the edge,” said the blog post.