The computing power of the bitcoin network at the end of last month began to recover after the collapse provoked by the repression against miners in China. On July 29, the BTC hash rate increased to 102 EH/s.
In August, the activity of miners continued to increase, thanks to the completion of their migration from the Middle Kingdom. Note that at the end of June, this indicator fell to 52 EH/s. Then it began to grow.
The CryptoQuant team estimates that computing power has nearly tripled over the past two months. Now the bitcoin hashrate is at 150 EH/s.
Researchers remind that in mid-May, capacities were very close to 200 EH / s, and then they collapsed by 65% due to an attack on miners in China.
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Today bitcoin is trading at $ 48,000. At the beginning of the week, the coin tried to break above $51,000 but failed to do so due to a lack of sufficient support from traders.
Santiment data shows that large bitcoin addresses periodically took advantage of the fall in cryptocurrency in July-August and boosted purchases at more comfortable prices.
The number of wallets controlling between 10 and 10,000 BTC has reached 146,950. The number of larger addresses has increased from 85 to 87, the team said in a report.