Huobi Global launches Chia token trading
Cryptocurrency exchange Huobi Global launches Chia token trading. At the moment, two trading pairs with USDT and BTC are available for users.
Deposits are already open
Cryptocurrency exchange Huobi Global has announced the launch of trading of the Chia token (XCH). Trading will begin today, May 14, at 02:50 (UTC). It’s said in the official message of the company on Twitter.
As explained by representatives of the exchange, at the first stage, trading pairs with USDT and BTC will be available to users. Users can already make deposits, but withdrawals are not yet available. The exchange will announce when this functionality will be unlocked. This is reported on the website of Huobi Global.
The news of the listing on the Huobi Global exchange had an immediate effect on the value of the coin. The price of the token increased by 29.48% in just 24 hours and the 24-hour trading volume increased by 173%.
What’s going to happen to Chia farming
The increased popularity of the Chia token encourages users to look for new ways to make money from the cryptocurrency. Previously, miners used special ASIC units or powerful video cards to mine cryptocurrencies, but Chia can be mined using an SSD drive.
Chia mining is based on hard drives. To start mining Chia, according to preliminary information, you need a hard drive with a capacity from 1TB. The most optimal size is recognized as 10 TB. In this case, over time, the volume requirements for Chia farming will increase.
Experts note that active chia farming shortens the life of a 512GB SSD to just 40-50 days. At the same time, an SSD with that amount of memory without farming can last up to five years. A hard drive with 1TB of memory can last about three months. Accordingly, a 2TB SSD can farm for up to six months. What’s more, Fast Technology has found that the amount of data written to the drive grows to 256 TB in just two months of active XCH mining.
Analysts are sounding the alarm that because of the hype surrounding XCH farming, the hardware market could be flooded with tainted hard drives. It’s worth noting that manufacturers have already declined warranties for SSDs killed by cryptocurrency farming.
