Ethereum (ETH), the second-largest crypto asset by market capitalization, has dropped 4.4 percent in the previous 24 hours and 8.7 percent in the last day. Ether is now trading for $3,787 per unit at the time of writing.

Ethereum has a 20 percent market share among the other coins in today’s $2.24 trillion crypto industry. On Monday, the market capitalization of ETH was $448.8 billion.

Bearish action resumes in the market as several assets stay in the red

Yearn finance (YFI) rose by 6.5 percent, Olympus (OHM) increased by 3%, okb (OKB) grew by 2.8 percent, and Leo token (LEO) increased by 2.1 percent in the previous 24 hours. Curve Dao Token (CRV), compound (COMP), and waves (WAVES) were among the largest losers on Monday, down 10%, 10.5 percent, and 10.2 percent, respectively. There is $102.8 billion in global transaction volume among the 11,836 cryptocurrencies now traded on 533 exchanges.

According to a report, 20% of the Bitcoin hashrate is still in mainland China

According to a recent report, despite September's crackdown, Mainland China may still be home to up to 20% of the world's total bitcoin (BTC) mining hashrate.

Despite Beijing's efforts to make an example of miners who continue to disobey the country's blanket ban on mining, police continue to find pockets of miners who refuse to shut down their rigs and are attempting to avoid detection.

As China pursues cryptocurrency users, a regional CCP chief has been arrested

However, according to a CNBC article, the scope of such operations may be more than previously imagined.

"As much as 20% of all bitcoin miners in the globe remain in China," the media site claimed, citing "several sources." The mainland used to contribute to over three-quarters of the global mining hashrate. There has been a reported outflow of miners to Kazakhstan, Russia, and the United States, some going as far as Paraguay.

However, there is enough evidence that BTC mining in China is far from dead.

David, a British resident in Shanghai for many years who requested anonymity, told Cryptonews.com:

"From what I've heard, many crypto miners have just turned off their machines." They believe this is a storm they will be able to weather. They haven't gone anywhere, according to my sources."

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Meanwhile, CNBC spoke with a miner who claimed he had switched off nothing. "I've scattered my mining equipment across numerous sites so that no one operation stands out on the country's electrical infrastructure," a miner named "Ben" claimed.

The same miner claimed to have hidden his "geographic digital footprint" by "drawing electricity directly from small, local power sources that are not connected to the broader grid, such as dams" and "hiding his "geographic digital footprint."

The deployment of Uniswap v3 contracts on Polygon was unanimously authorised at 99.3 percent.

A $20 million fund for a long-term liquidity mining effort and broad adoption of Uniswap on Polygon will promote the rollout of Uniswap v3 contracts.

The governance proposal to deploy Uniswap v3 contracts over the Polygon PoS Chain has been approved by the Uniswap community. The approval came in the form of an on-chain vote in which over 72.6 million people voted.

Uniswap Labs has announced the deployment of Uniswap v3 contracts, which will be supported by a $20 million fund — $15 million for a long-term liquidity mining campaign and $5 million for overall Uniswap adoption on Polygon — based on votes that showed a 99.3 percent positive consensus (MATIC).

Bjelic also stated that now was the appropriate time for Uniswap to launch on Polygon, given their status as "the second strongest DeFi ecosystem, just after Ethereum L1."

The entrepreneur has expressed his desire to financially and technologically incentivize Uniswap usage.

Polygon CEO Mihailo Bjelic published the proposal on Nov. 20. It was open for voting until Dec. 18, claiming that "deploying to Polygon PoS can bring a lot of benefits" such as "user base growth, huge savings for users, higher user activity, higher revenue, market capture, and a return to the original DeFi vision."

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Bjelic provided a set of consensus and temperature checks to assess the community sentiment behind implementing Uniswap v3 before on-chain voting for the governance proposal UP010.

Do you think the Chinese government will get rid of all remaining miners in the country?