The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Blockchain

Crypto Mining Demands Ramps Up in Vietnam Amid Bitcoin’s Price Surge

by Miki 09/07/2021
by Miki 09/07/2021 0 comment

Vietnam is currently witnessing increasing cryptocurrency mining activities, a trend triggered by the current crypto rally that has left most crypto tokens surging the value. Bitcoin was breaking through above $52,000 for the first time since May during the intraday.

According to VnExpress local news agency, crypto-related business people and enthusiasts in Vietnam have witnessed a significant rise in demand for cryptocurrency mining machines in the nation.

Quang Thuan, the owner of a chain of outlet mining shops selling cryptocurrency mining machines across Ho Chi Minh City, the largest city in Vietnam, talked about the development and stated that the firm has seen its sales tripled in early September over the previous month. He acknowledged that before Bitcoin soared its value back to above $50,000 in mid-August, the overall cryptocurrency mining hardware market was down in the country.

The increasing demand has triggered a significant rise in the prices of most cryptocurrency mining rigs as the prices of some devices now go for five million Vietnamese dongs ($220) higher than in mid-August. Ngoc Van, a local crypto mining enthusiast, talked about the new trend taking shape and said that the best cryptocurrency Mining GPU machines manufactured by AMD or Nvidia currently cost between $3,500 and $4,400.

Bitcoin mining sellers in the country have seen a three-fold rise in sales since late August, as the prolonged Coronavirus pandemic and the increasing prices of cryptocurrencies have made the cryptocurrency mining activity the preferred investment choice for Vietnamese citizens once again. Le Hung, the administrator of a local cryptocurrency mining community with nearly 80,000 members, talked about this observation and stated that the cryptocurrency mining activities in Vietnam have gained renewed interest because of the ongoing Covid-19 pandemic and the current comeback of a crypto rally.

 “First, Bitcoin, Ether and other cryptocurrencies have simultaneously seen price hikes, and miners have started to make profits. Second, the pandemic has prolonged, reducing investment options, and so more people have opted for coin mining,” 

New Bitcoin Users in Vietnam

Over the past decade, crypto tokens have been a consistently hot topic in Vietnam. A recent surge in the price of Bitcoin has turned up the heat more than ever before.

Using crypto assets to purchase is illegal in Vietnam, but they are still actively purchased as investment instruments. A recent report ranks Vietnam among the top three globally in cryptocurrency adoption, with 41% of its citizens saying they have bought some form of cryptocurrencies.   

The considerable interest of Vietnamese residents has grabbed the government’s attention regarding how it can effectively regulate and potentially use this type of currency. After years of warning its citizens not to gamble on cryptocurrencies, the Vietnamese government decided to explore creating its own digital currency.

In July, the Prime Minister of Vietnam laid out a strategy for digitising the government by 2030. As part of the plan, the Prime Minister directed the State Bank of Vietnam to research, develop, and pilot virtual currency based on blockchain technology. As a result, the government’s decision has raised a stir among Vietnamese investors as it seemed to hint at the government’s growing openness towards cryptocurrency, which in the past was largely opposed.

Image source: Shutterstock



Source link

Views: 1
BitcoinsCryptoDemandsMiningpriceRampsSurgeVietnam
Share
0
FacebookTwitterPinterestEmail
previous post
Dogecoin: A rising wedge breakdown has these implications
next post
Solana (SOL) Price Shoots to New ATH Closer to $200

Related Posts

Iran Bans Crypto Mining to Avert Major Blackouts...

12/29/2021

Italian Sports Car Maker Ferrari Inks Multi-Year Deal...

12/29/2021

ProShares Files for New Metaverse ETF With U.S....

12/28/2021

Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute...

12/28/2021

Binance Trading Platform Licenses in Bahrain, Canada

12/28/2021

Tokenized Bitcoin in Circulation Nears a Half Million...

12/28/2021

Ethereum 2.0 Full Upgrade Will Prompt a 1%...

12/28/2021

Iranian Crypto Miners get Cut Off as Country...

12/28/2021

Kraken Develops NFT Trading Platform, Offering Token-Backed Loans

12/27/2021

Crypto Review 2021 | Blockchain News

12/27/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • $100 million in ETH burned days after EIP-1559 upgrade

  • TitanSwap Successfully Achieves Cross-chain with BSC

  • Why ‘Ethereum’s woes’ have turned into Polygon’s wins?

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,366.00-3.50%
  • ethereumEthereum(ETH)$1,961.79-5.21%
  • tetherTether(USDT)$1.00-0.03%
  • binancecoinBNB(BNB)$323.12-3.72%
  • usd-coinUSD Coin(USDC)$1.00-0.10%
  • rippleXRP(XRP)$0.404127-5.39%
  • Binance USDBinance USD(BUSD)$1.00-0.20%
  • cardanoCardano(ADA)$0.52-7.34%
  • SolanaSolana(SOL)$49.72-7.72%
  • polkadotPolkadot(DOT)$9.91-7.12%
  • dogecoinDogecoin(DOGE)$0.082946-5.55%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,381.00-3.38%
  • Lido Staked EtherLido Staked Ether(STETH)$1,920.56-5.35%
  • AvalancheAvalanche(AVAX)$28.43-12.87%
  • tronTRON(TRX)$0.0811485.72%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-6.37%
  • daiDai(DAI)$1.00-0.10%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$69.29-5.92%
  • CronosCronos(CRO)$0.186415-6.52%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.86-0.94%
  • matic-networkPolygon(MATIC)$0.64-8.45%
  • HederaHedera(HBAR)$0.389473-3.44%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.78-9.39%
  • FTX TokenFTX Token(FTT)$29.37-4.89%
  • bitcoin-cashBitcoin Cash(BCH)$192.49-5.09%
  • RareRare(RARE)$0.0461220.00%
  • moneroMonero(XMR)$193.10-2.72%