Crypto data aggregator CoinMetrics has compiled a list of 100 insights into the recent performance of the digital asset markets — and the figures add up to a very bullish picture for the ecosystem. Released to celebrate the 100th issue of its “State of the Network” report, the list notes that a $100 investment made into Dogecoin (DOGE) 100 days ago would be worth $2,742 today — outperforming the same $100 investment in Bitcoin (BTC) (which would be valued at $135 today), Ether (ETH) ($186), and Uniswap (UNI) ($401). The report states that Bitcoin has seen $14.5 billion worth of …
Square's Cash App, a Bitcoin-friendly mobile payments platform, has raised its minimum withdrawal requirements for BTC holders. The minimum withdrawal amount for Bitcoin accounts is now 0.001 BTC, or 100,000 satoshis, compared with 0.0001 BTC, or 10,000 satoshis, previously. With Bitcoin hovering around $51,800, 0.001 BTC is equivalent to $51.80. The leading cryptocurrency was in the midst of another large correction on Thursday, having fallen 6%. Bitcoin is down over 19% over the past seven days, according to CoinMarketCap data. “You must have a balance of at least 0.001 bitcoin to make a withdrawal,” reads Cash App’s withdrawal instructions. Users …
Bitcoin (BTC) transaction fees measured in United States dollars are near 2017 levels amid a massive hash rate drop on the Bitcoin network. According to data from several Bitcoin monitoring resources, the average BTC transaction fee in U.S. dollars is near the all-time high recorded back in 2017. According to data from blockchain explorer Blockchair, the average cost of a Bitcoin transaction surged Tuesday to $58, approaching its all-time high of above $62 recorded in December 2017. Popular Bitcoin monitoring source BitInfoCharts suggests that current BTC fees have already broken the record of $54 in 2017 at $58 on Tuesday. …
Bitcoin (BTC) fell to sudden lows of $52,000 on April 18 in a timely reminder of how price action often follows hash rate. China, US rumors lead the BTC sell-off Cointelegraph Markets Pro and TradingView showed a brutal hour for Bitcoin bulls everywhere early on Sunday as the market went from $59,000 to $52,000 in minutes. Having lost $60,000 support earlier in the weekend, BTC/USD was still fairly stable before the snap price event, which liquidated positions worth almost $10 billion over the past 24 hours. At around $7,000, the hourly loss challenges the record reversal seen in February after …
Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future. According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history. Hash rate underscores miner commitment Coming as a spike in a long-term uptrend, crossing the significant boundary means that the hash rate has doubled in under nine months. An estimate of the computing power dedicated to the network by miners, the hash rate has traditionally acted as …
Hash rate refers to the overall computing power involved in validating transactions on the Bitcoin (BTC) blockchain. As reported by Cointelegraph, more power suggests greater network security and interest in the profitability potential of mining Bitcoin. Hash rate a function of Bitcoin's value A hash rate increase is often associated with the expectation of BTC price appreciation. Analysts found evidence that both the 2013 and 2016 bull cycles were marked by a rise in mining difficulty following the hash rate increase. For instance, the 70% gains in 2021 coincided with multiple investments and large orders for mining equipment. But singling …
The number of transactions waiting to be confirmed in the Bitcoin mempool surged briefly above 125,000 today. This represents the equivalent of roughly 149 megabytes worth of data waiting to be added to the blockchain, which is enough to fill at least 107 upcoming blocks. Although smaller than the spike that saw a 143,000+ transaction backlog on Dec. 17, 2020, the increasingly cluttered mempool is emboldening Bitcoin’s critics while providing forks with talking points about the speed and cost of cryptocurrency transactions. Over past 3 months, the daily average Bitcoin transaction fee has varied between $2.18 and $17.20; makes buying …
Foundry, a wholly owned cryptocurrency mining subsidiary of Digital Currency Group, or DCG, has entered the top 10 largest Bitcoin (BTC) mining pools in the world. The firm's CEO, Barry Silbert, announced the news on Tuesday, predicting that Foundry will soon break into the top five mining pools list. At publishing time, Foundry has a total hash rate of 2.74 exahashes per second, according to data from block explorer BTC.com. The mining pool is responsible for 1.85% of the total global hash rate. The news comes shortly after Silbert announced that global Bitcoin miners will be able to join the …
The Bitcoin (BTC) price is not the only metric seeing record numbers as the network hash rate has set a new all-time high. According to data from Blockchain.com, the estimated seven-day average Bitcoin hash rate is now at about 148 exahashes per second, or EH/s. This figure represents the amount of computing power expended by miners to secure the network every second. Tweeting on Jan. 1, on-chain analytics data provider Glassnode revealed that Bitcoin recorded its largest average monthly hash rate of 136 EH/s in Dec. 2020. ATH: December's hash rate (136 exahash / s) was the highest in #Bitcoin's …
Bitcoin mining started out as a small endeavor taken on by a few individuals repurposing home computers to mint virtual coins that were, at the time, almost worthless. Fast forward to 2020, and Bitcoin (BTC) mining has become a formidable industry of its own, constantly growing and evolving alongside Bitcoin itself. Today, the Bitcoin network’s hash rate is sitting at around 129 EH/s, acting in a similar way to the price of Bitcoin, even following the halving in October this year that saw the mining reward cut in half. James Bennett, CEO of ByteTree crypto data provider, told Cointelegraph that …
Amaury Sechet's Bitcoin ABC coin is up 70% today as the developer announced a new upgrade for the client software that includes stability-related fixes for both forks of the Bitcoin Cash client. The new release breathes much-needed life into the Bitcoin ABC (BCHA) faction of Bitcoin Cash which was crushed by rival Bitcoin Cash Node (BCHN) in a briefly-lived hash war following the fork on November 15. This led to rumors about its impending demise. According to CoinMarketCap, BCHA opened trading at $11.78. The coin is now trading with substantial volume on exchanges and has been as low as $10.50 …
The Bitcoin Cash network just went through yet another fork after originally being created as a hard fork from the Bitcoin (BTC) blockchain in August 2017. The hard fork on Nov. 15 split the Bitcoin Cash network into two new blockchains, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). The main difference between the two is the 8% tax on gross rewards that miners must pay to BCH ABC’s development team. Among the two networks, Bitcoin Cash ABC received very little hash power, while Bitcoin Cash Node obtained the majority, indicating that miners may generally favor BCHN over BCHA. …