Fast Take
The Bitcoin community has lately seen a major uptick in its issue adjustment and hash fee, as reported by CryptoSlate.
A notable 8% rise in issue adjustment, the very best in 12 months, pushed it to an all-time peak of 81.73 T, in response to knowledge from Coinwarz. Concurrently, the community’s hash fee – measured over a 14-day shifting common – additionally hit a report excessive, reaching 583 eh/s.
Such surges aren’t unusual as we edge nearer to a Bitcoin halving occasion scheduled for April 2024. Evaluation reveals that the community hash fee sometimes experiences heightened progress within the 4-6 months main as much as a halving.
Glassnode knowledge on hash fee progress on the onset of every Bitcoin halving is recalibrated to a standardized baseline index of 100%. This standardization permits for a exact monitoring of progress that transpires all through every halving interval.
For the reason that begin of the present halving interval, the hash fee has grown a powerful 380%. Nevertheless, it’s price noting that the expansion is lowering with every cycle in comparison with the 8000% progress noticed within the 2016-2020 cycle.
This progress may very well be attributed to miners dashing to learn from the present block reward of 6.25 BTC earlier than the halving occasion in April, which will probably be decreased to three.125 BTC.
The publish Bitcoin’s community sees a 380% improve in hash fee because the begin of the present cycle appeared first on CryptoSlate.
