Bitcoin hash rate reaches new alltime high with a remarkable 74 annual surge

In a significant development on the network
Bitcoin
, the hash rate recently hit an all-time high (ATH) of 791,62 million TH/s, as per data from the Ycharts platform. Hash rate is a key indicator that highlights the security and efficiency of the network.
Bitcoin’s milestone also reveals a significant 73,95% improvement in hash rate compared to last year.
According to the
data
from the Ycharts platform, in recent weeks, Bitcoin has seen a notable increase in its hash rate, ranging from 574 million to 742 million at the beginning of October.
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Recent on-chain activity served as a precursor for Bitcoin to break above the 791 million level, where it remains unchanged for the second day in a row.
“The Bitcoin Network hash rate is currently at 791,62M, unchanged from yesterday’s 791,62M and up from 455,08M a year ago. This is a 0,00% change from yesterday and 73,95% change from a year ago,” the platform highlighted.


Bitcoin Hash Rate. Source: Ycharts
It is worth noting that the recovery in this important metric has been driven by the development of more advanced mining equipment, occurring as reports of the dominance of major Bitcoin miners in the US grow. They currently control a percentage of almost 29% of the global hash rate.
Bitcoin Price Today 21/10/2024
Monday, October 21, 2024, at the time of publication, the
Bitcoin Price Today
was quoted at US$ 68.334,68, approximately R$ 389.292,65 BRL and € 63.079,00 EUR, showing a slight drop of 0,5% in the last 24 hours.
The cryptocurrency market has seen a notable spike in liquidations, surpassing $135 million in the past 24 hours, with Bitcoin approaching the $70.000 mark. This sudden move has surprised many investors, resulting in losses for 54.843 traders around the world.
Bitcoin, which hasn’t reached this level since its peak in March, when it briefly traded at around $73.000, is on the rise again. The surge in BTC’s price has sparked excitement in the market, but it has also triggered a wave of liquidations on major cryptocurrency exchanges such as Binance, OKEx and Bybit.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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Bitcoin (BTC)