Ethereum’s Hash Rate has risen 90% since the beginning of the year and is heading for the new ATH

Ethereum’s Hash Rate has risen 90% since the beginning of the year and is heading for the new ATH

Demand for the ethereum network is increasing these days, and with it the resilience of the network, which is confirmed by the increasing hash rate.


29 Nov 2020 , 12:21 @ Katie Müller

Ethereum’s Hash Rate has risen 90% since the beginning of the year and is heading for the new ATH

Demand for the ethereum network is increasing these days, and with it the resilience of the network, which is confirmed by the increasing hash rate.

The second most popular cryptocurrency records increasing numbers in each direction. In addition to the fact that Ethereum has exceeded $ 600 for a while this week, the resilience of the entire network is also increasing.

Exactly at the same time that the ETH reached this year’s ATH of $ 623  (Coinbase) on November 24, the average daily hash rate was 280 GH / s.

This means that since the measured minimum on January 1st, 2020 of 147 GH / s, the mining hash rate has been able to increase by 90.4%. As for the ATH, which was measured on August 9th, 2018 at 295GH / s, which means that it is highly probable that Ethereum can overcome it given the current increase.

With increasing demand for the network, network fees are also becoming more expensive, which are an increasing attraction for miners, as they can earn more in some cases from ethereum gas than in block rewards themselves.

On November 26, Ethereum Gas reached 142.5 Gwei, which is an increase of more than 1,300% compared to the values ​​from the beginning of the year. Ethereum Gas experienced the biggest fluctuations in the summer of this year on June 11th, when it managed to jump up to 709 Gwei, which is a whopping 6990% increase.

Read also: Ethereum 2.0 has already met the deposit limit and will be launched on time

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