Tuesday, May 11, 2021

Bitcoin (BTC) Hashrate Hits its 3rd Highest Daily Computing Power since Inception

On 13th April 2020, it was reported that Bitcoin (BTC) hashrate hit its third-highest daily computing power since 2009, when the cryptocurrency came to existence.

Also, the number of Bitcoin wallets has reportedly experienced a significant increase over the past 24 hours, as Bitcoin halving counts down.

The new milestone attained by the digital currency was reported by the CCO of Beatzcoin, Misha Lederman, via his Twitter handle.

He wrote, “Bitcoin hashrate hit its 3rd highest daily computing power dedicated by BTC miners on April 13 since 2009 inception.”

He further stated that Bitcoin network continues to thrive amidst the new coronavirus pandemic and lockdown across the world, at the time the global fiat economy is experiencing a downward trend.

“The fiat world economy may be in a downward spiral amid COVID19 crisis, but the BTC network is instead becoming more resilient, robust & increasingly secure,” Misha Lederman concluded.

Moreover, Glassnode Alert, the on-chain alerts account, reported a few hours ago that Bitcoin number of new addresses has had a notable increase in the last 24 hours.

The report stated that the total number of new wallets now stands at 16,124.79, which implies a 10.2% increase against the previous record.

“Bitcoin (BTC) Number of New Addresses (3d MA) increased significantly in the last 24 hours. Current value is 16,124.792 (up 10.2% from 14,630.375),” Glassnode shared.

The notable increase in the number of addresses shows the preparation for the upcoming Bitcoin halving, as no one wishes to be caught unaware by the anticipating event.

The Bitcoin (BTC) Price Situation in the Market

Bitcoin (BTC), the largest cryptocurrency by market capitalization, is still changing hands below $7,000. The price of the digital currency had surged beyond the resistance level more than twice in the past few weeks, but has failed to hold the support at each attempt.

At the time of writing, BTC is trading at $6,713.83, with about a 3% price downtrend based on 24 hours estimation.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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