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Bitcoin Network Hash Rate Hits All-Time High amid Continuous BTC Rise

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The Bitcoin network’s hash rate has set a new all-time high as the price of Bitcoin continues to rise, gearing towards $36,000. According to analysis by Blockchain.com, the Bitcoin hash rate is now at 148.067 exahashes per second. Notably, the hash rate measures the processing power of the Bitcoin network.

The increase in the Bitcoin hash rate occurred at a time the king coin has been recording significant gains and hitting new highs. Before now, on-chain analytics data provider Glassnode revealed that BTC reached its highest hash rate in December. In a tweet, Glassnode said:

“ATH: December’s hash rate (136 exahash / s) was the highest in Bitcoin’s history so far.”

Generally, the Bitcoin network has been recording upgrades in several metrics such as activity on the network and its usage. Coin Metrics noted that the number of active BTC addresses is soaring towards its all-time high of about 1.19 million. The last time active Bitcoin addresses were up to 1.19 million was in December 2017 during the BTC rally.

Bitcoin is up 8.94% to $34,808.27 with a market capitalization of nearly $651 billion at press time. On the 5th of January, the top digital asset crossed $35,000 for the first time in history. BTC reached its most recent all-time high shortly after the US Office of the Comptroller (OCC) announced that banks can now use stablecoins and public blockchains for official business. 

Image Credits: Pixabay

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