Bitcoin Price (BTC) is not the only calculation that takes records into account, because the network hash rate set a new record.
According to data from Blockchain.com, the average hash rate of bitcoins over seven days is now around 148 EXH / s, or EH / s. This number represents the amount of processing power miners use to secure the network every second.
In a tweet on January 1, Glassnode, the cross-network analytics data provider, reported that Bitcoin had the highest average monthly hash rate in December 2020 at 136 EH / s.
The current rise in retail speed is in line with the trend seen since early November 2020, which coincides with the start of the current upward rise in the BTC spot price.
At the time, the network was recovering from a significant drop in hash rate caused by the seasonal migration of Chinese miners at the end of the rainy season in Sichuan. Before the downturn, Bitcoin’s hashrate averaged around 146 EH / s seven days earlier, according to Blockchain.com.
If the current hash rate trajectory continues, the network will face up to 10% reconciliation issues at the next retargeting time on Saturday.
The high hash rate is just one example of the continuous improvement in the foundations of bitcoin. Other calculations such as network utilization and activity are also increasing. According to Coin Metrics, the number of active bitcoin addresses is close to the constant high of around 1.19 million, reached during the December 2017 bull run.
BTC also continued its sharp rise in prices after surpassing the $ 10,000 price tag in early October. The largest cryptocurrency by market value put the new ATH cards above $ 35,000 before they saw a small drop.