Cryptocurrency Analysis and News Portal
The price of bitcoin could see an ‘imminent’ breakout, according to the latest Glassnode data.The data firm says bitcoin (BTC) has been flashing bullish for the past six weeks amid positive onchain activity.Meanwhile, the BTC network hashrate has continued to grow, with the seven-day average reaching 123.4 exahash per
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Bitcoin hashrate jumped 23 percent since May 26, signaling more miners are resuming operations on the cryptocurrency’s blockchain network.The rally also continued as Bitcoin’s mining difficulty dropped by over 9 percent on June 4.The rising hashrate indicates a slowdown in miner capitulation, which could assist in sending the bitcoin price
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[sociallocker id="55298"] The Bitcoin hashrate is up this weekend after the network experienced it’s fourth negative difficulty adjustment this year. The Bitcoin (BTC) protocol’s difficulty adjustment dropped over 9% on June 4, giving miners who shut off their machines a chance to join the competition once again. Moreover, Glassnode
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Around 18 days ago, the Bitcoin protocol experienced it’s third block reward halving and the network saw a 33% hashrate loss. Since then, however, bitcoin miners have increased in both number and hashpower, as the network has seen a 15-20 exahash per second (EH/s) increase. Moreover, on May 22,
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The government of China’s Sichuan province moves to stamp out Bitcoin (BTC) mining activity, citing that growing cryptocurrency prices have led to the escalation of illegal activity under the guise of mining.Sichuan — 10% of the global hashrateAccording to estimates from Cambridge University, Sichuan is responsible for almost 10% of
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It’s been 11 days since the third bitcoin block reward halving. Data now shows that the overall SHA256 hashrate lost around 47 exahash per second (EH/s), since the all-time high of 140 EH/s on May 3. With more than 33% of the hashrate lost, reports stemming from Sichuan China
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After Bitcoin’s hashrate hit a high of 103 exahashes per second on May 11, one day prior to the halving event, the latter saw hash rates fall significantly to just 87 exahashes per second, a level not seen in recent times. But the situation has been improving since, along with
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On Friday, Cryptocurrency derivatives exchange FTX launched a hashrate futures tool that allows Bitcoin (BTC) miners to hedge against mining difficulty risk.Hashrate, the amount of processing power dedicated to a Bitcoin network at a given time, determines the strength and security of the network.FTX leverages mining difficulty, that is,
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The Cambridge Center for Alternative Finance (CCAF), an affiliate of the University of Cambridge dedicated to the study of alternative finance and financial channels, has developed a new Bitcoin data tool called the Bitcoin Mining Map. The team claims the solution helps users get a clear picture of the global
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A new bitcoin mining map by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total.Launched recently, the university’s
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