Ethereum hashrate updated all-time high

by in Cryptocurrency News

Ethereum

The hashrate of the Ethereum network reached 646.7 GH/s, updating its all-time high, according to Etherscan data.

The indicator exceeded the previous record level of 643.8 GH / s, which it reached on May 20.

Against the backdrop of the ensuing harassment of mining in China, the computing power of the network collapsed by the end of June to 479 GH/s.

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The bitcoin hash rate followed a similar trajectory, falling from 197 EH/s to 78 EH/s. The relocation of miners from China and the increase in mining capacity outside of China have contributed to the recovery, but at the time of writing, the figure is not close to the maximum reached in May and is equal to 137 EH/s.

Ethereum's hashrate hit a record high, analysts say, was fueled by continued growth in the DeFi sector and an ongoing boom in non-fungible tokens (NFTs).

According to the DappRadar service, on August 10, the value of assets blocked in the network's DeFi protocols reached $ 135.7 billion, compared with $ 85 billion at the end of June. At the time of writing, the indicator has adjusted to this mark.