Despite Transfers Lingering in the Mempool, Bitcoin’s Daily Transaction Rate Taps All-Time High

Despite Transfers Lingering in the Mempool, Bitcoin's Daily Transaction Rate Taps All-Time HighBitcoin is on a roll in 2023, breaking records left and right. For instance, on May 2, at block height 787,895, the cryptocurrency’s hashrate soared to 491 exahash per second (EH/s). Moreover, on April 20, at block height 786,240, the difficulty hit a new high of 48.71 trillion. But that’s not the only thing that’s […]

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Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%

Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5. As of now, there are only slightly over […]

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Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases

Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive IncreasesBitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks. Bitcoin Difficulty […]

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Bitcoin Difficulty Estimated to Drop After 5 Back-to-Back Increases

Bitcoin Difficulty Estimated to Drop After 5 Back-to-Back IncreasesBitcoin’s imminent difficulty change appears to be heading towards a possible decrease, marking the first time in over 73 days, ever since February 12, 2023. The network has witnessed a notable difficulty upswing of approximately 22.62% since block height 778,176. Consequently, with the current block times in place, the mining participants of the network may […]

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Bitcoin Difficulty Reaches New All-Time High After Fourth Consecutive Increase

Bitcoin Difficulty Reaches New All-Time High After Fourth Consecutive IncreaseOn April 6, 2023, Bitcoin’s difficulty rose 2.23% higher at block height 784,224, touching another all-time high. It’s the fourth consecutive difficulty increase on the Bitcoin network since Feb. 24, and the protocol’s current difficulty is 47.89 trillion, which is only 2.11 trillion away from reaching the 50 trillion range. Bitcoin Difficulty Jumps 2.23% Higher […]

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Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025

Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. […]

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Bitcoin Network Preps for Another Difficulty Spike as Hashrate Remains Strong and Miners Profit Amid Price Surge

Following the last two difficulty increases on the Bitcoin network, another rise in difficulty is expected to take place on March 24, 2023. Statistics show that Bitcoin’s hashrate has remained high despite the last two adjustments, and block times have been faster than the ten-minute average. Bitcoin Difficulty Expected to Rise Following the Past Two […]

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Bitcoin Miners Brace for Another Projected Difficulty Increase as Hashrate Heats Up Amid Market Uncertainty

Bitcoin Miners Brace for Another Projected Difficulty Increase as Hashrate Heats up Amid Market UncertaintyDespite a 9.95% increase last week and the all-time high difficulty, bitcoin’s hashrate has averaged around 305 exahash per second (EH/s) over the past 30 days. According to current data, the hashrate has been around 308 EH/s over the past 2,016 blocks. The next difficulty change, set to occur on March 10, is estimated to […]

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