Certainly, BTC is making steady steps forward at the moment. Price is not the only benchmark, as the rate of fragmentation of the digital currency network has reached a new high as well.
The BTC hash rate is at new levels
According to data from Blockchain.com. The average hash rate for a seven-day BTC cryptocurrency is now around 148 x hash per second, or EH / s. This number represents the amount of computing power miners spend to secure the digital currency network every second.
In a tweet posted on January 1, digital currency company Glassnode, the provider of analytics data across the chain, revealed that the cryptocurrency, BTC, recorded its largest monthly hash rate of 136 EH / s in December 2020.
It is in line with the recent bitcoin price hike
The current digital currency hash rate growth is in line with the trend observed since the start of November 2020. It also coincides with the beginning of the current bullish advance in the spot price of the BTC digital currency.
at that time. The digital currency network has been recovering from a significant drop in hash rate caused by the seasonal migration of Chinese miners at the end of the rainy season in Sichuan. Before back off. The digital currency hash rate at the average ATH seven days previously was around 146 EH / s. According to figures from Blockchain.com.
If the current upward path of the digital currency hash rate continues. The e-currency network will be due to the upward difficulty adjustment above 10% in the next retargeting era which has to happen on Saturday.
Improvements are continuing in the fundamentals of electronic currency
The high hash rate is just one example of continuous improvements in the fundamentals of digital currency. Other metrics like network usage and activity are also rising. According to Coin Metrics. The number of active digital currency titles is nearing an all-time high of around 1.19 million achieved in the bull run in December 2017.
The BTC digital currency has also continued its steep rise in prices since it broke through the $ 10,000 price tag in early October. Bitcoin digital currency BTC by market cap briefly put new ATH above $ 35,000 as well before seeing a slight decline.
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