Ethereum’s Hash Rate Sets Record Despite ETH Trading 75% Below All-Time High


Ethereum’s price has stagnated over recent weeks. After peaking at $490 last month, the coin has dropped around 30% to $340 as of this article’s writing. At the recent lows, ETH was trading as low as $310. Ethereum’s hash rate has continued to march higher despite the price of ETH falling. This may be related to the extremely high transaction fees collected by miners over recent weeks and months. The spike in transaction fees is related to a result of a growth in the decentralized finance space. Certain Defi activities have spurred a strong uptick in transactions, driving the growth of collected fees. Ethereum Hash Rate Hits Fresh All-Time High Ethereum’s hash rate just hit a new all-time high despite ETH trading 75% below its all-time high price above $1,400. This metric continues to move higher in the face of a strong drop in the price of ETH since the…

Read the original article here