Recent market declines have sent coins tumbling, although Bitcoin’s hashrate and network difficulty has hit all-time highs.
- Hashrate is the computational power needed to verify transactions in a proof-of-work blockchain like Bitcoin. The Bitcoin hash rate had hit over 266.406 terahashes (266,406,000,000,000) according to data from Blockchain.com.
- With this increase, it means that there are more mining nodes connected to the network, increasing the competition and difficulty among them.
- Along with hashrate, the network difficulty had also hit an all-time high at 31.251 trillion.
- Bitcoin is currently trading at around US$21,000, declining over 30% within the last week alone.
See Related: New ATH For Bitcoin Hashrate (Feburary 15th, 2022)