Ethereum hash rate up 28.6% — its highest level in seven months

Ethereum hash rate up 28.6% — its highest level in seven months
фото показано с : coinjournal.net

2020-6-5 15:23

Ethereum hash rate increases to high levels so far this year, with prices looking to breach $250

Ethereum’s hash rate has increased 28.6% since the beginning of the year, with its highest level in months coming at a time bulls are looking to push prices to levels last seen in February.

According to data by on-chain analysis platform Glassnode, Ethereum’s hash rate is at its highest since late 2019. Ethereum is a proof-of-work (PoW) network that uses mining to create new ETH through computing power, like Bitcoin.

The cryptocurrency is set for a transition to a proof-of-stake (PoS) algorithm via its Eth 2.0 upgrade expected later in the year.

But for now, miners continue to compete to solve cryptographic puzzles. With prices rising to $250, miners have increased their thirst for the crypto. According to Etherscan.io, the hash rate in the last 12 hours was at 183,128.76 gigahashes per second (GH/s).

Fig 1: Ethereum hash rate chart. Source: Glassnode on Twitter.

Glassnode’s data reveals that the last time the hash rate was this high was seven months ago. Data from Etherscan shows the highest ever average hash rate for the network at 295,911.9974 GH/s was on August 9, 2018. The lowest average hash rate at 11.5297 GH/s was on July 30, 2015.i

Is $250 or higher achievable this month?

The overall crypto market began historically bullish June with positive moves, including Bitcoin which hit prices above $10,400 before retreating to levels below $9,800.

Ethereum also had a great start to the month, bullish sentiment extending its May gains above recent bogey price $220. The cryptocurrency has risen to a high of $247 before bulls hit a wall of sellers that prevented a breach above $250.

Can the Ethereum bulls ride the upside to push the crypto price higher? Buyers have to overcome immediate resistance at $247, which is certainly achievable with increased volume. North of immediate resistance for Ethereum bulls is the $265-$275 zone.

However, failure to surmount $250 will see ETH/USD dip to consolidate in the region between $230 and $245.

Fig 2: Ethereum has added 2.05% to its 7-day intraday volumes: Source Cryptocompare

At press time, Ethereum is trading at $246, about 2.28% up on the day.

The post Ethereum hash rate up 28.6% — its highest level in seven months appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3247.81 (-0.81%)
Объем 24H $24.869b
Изменеия 24h: -3.55 %, 7d: -18.82 %
Cегодня L: $3238.6 - H: $3302.71
Капитализация $391.216b Rank 2
Цена в час новости $ 242.8 (1237.65%)

ethereum rate hash months level seven highest

Источник: coinjournal.net

ethereum rate → Результатов: 126


Фото:

Ethereum’s Rocketing Funding Rates a Grave Sign for Its Ongoing Rally

Ethereum has been severely underperforming Bitcoin in recent times, but this appears to be shifting as the cryptocurrency posts a breakout rally while BTC declines This uptrend has come about as long positions for the cryptocurrency rocket higher, reaching a fresh all-time high this week In tandem with this, ETH’s funding rate has also grown massively – which is typically a grave sign that a torrent of liquidations is imminent Ethereum has been able to […]

2020-5-30 23:00


Refinitiv adds BNC LX indices to Eikon

We are excited to announce that Refinitiv has added Brave New Coin’s suite of LX indices to its award-winning Eikon terminal. By adding a single, reliable USD price discovery tool and reference rate for Bitcoin, Ethereum, and Ripple, the Eikon terminal now extends its market data offerings beyond its traditional financial coverage and firmly enters the cryptocurrency space.

2020-4-27 18:00


CME будет отслеживать котировки Ethereum еще на одной биткоин-бирже

Чикагская товарная биржа (CME) сообщила об изменениях в формировании собственного ценового индекса на Ethereum. Теперь данные будут собирать с торговой площадки itBit, которая принадлежит финтех-компании Paxos.

2019-7-6 14:10


Ethereum Could Be More Secure And Decentralized Than Bitcoin Due To Its Low Issuance Rate

In the recent past, Bitcoin’s has witnessed an explosive growth and surge with its value increasing by more than 200 percent in a year and at the moment trading close to the $12,000 mark. Despite the phenomenon price hike, different crypto enthusiasts are of the view that Bitcoin could fail to meet the market expectations […]

2019-6-30 22:52


Ethereum’s lower issuance rate compared to Bitcoin speculated to be key in rapid decentralization and adoption

Bitcoin’s recent surge has been the highlight of the cryptocurrency market after it witnessed an increase of more than 200 percent over the year to currently trading near the $12,000 mark. Despite the price hike, some cryptocurrency users still believe that Bitcoin would fail to live up to its expectations and that other altcoins like […] The post Ethereum’s lower issuance rate compared to Bitcoin speculated to be key in rapid decentralization and adoption appeared first on AMBCrypto.

2019-6-29 14:30


Tron’s [TRX] DApp dominance over Ethereum [ETH], EOS put on show as 3-month growth rate is calculated

Tron [TRX], the Justin Sun-led cryptocurrency, has had a rollercoaster of a bull run, with the coin climbing into the top 10 club for a short stint, before dropping out within a few hours. Despite this setback, Tron has seen a marked shift with respect to Decentralized Application [DApp] development, offsetting the hold held by […] The post Tron’s [TRX] DApp dominance over Ethereum [ETH], EOS put on show as 3-month growth rate is calculated appeared first on AMBCrypto.

2019-6-7 02:30


Tim Draper Expresses Uneasiness for Ethereum’s Issuance Rate but Impressed by Smart Contracts

During a recent interview with Ethereum Classic Labs, American Venture Capital Investor, Timothy Cook Draper expressed his uneasiness with Ethereum, while also praising the blockchain reports CCN. What troubles the investor who is popularly known for his $250,000 prediction for the crypto giant, Bitcoin [BTC], is Ethereum’s issuance rate of two to four percent yearly. […]

2019-6-1 00:19


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin mining difficulty falls 7.3%, largest since July 2021

Bitcoin’s mining difficulty fell by 7. 32% over the past two weeks, the largest negative adjustment in almost 18 months. Mining difficulty adjusts every 2,016 blocks or roughly two weeks and depends on average block time (10 minutes) and hashrate.