Ethereum’s Hashrate Jumps

ethereum hashrate spikes sep 2020

Ethereum’s hashrate has spike upwards for the first time in more than two years, reaching nearly 250 terahashes a second. That’s the highest level it has reached since it neared 300 TH/s in August 2018, with it only downwards or stagnating since, until it began spiking in July. The rise in eth’s price most likely has contributed to this return in confidence towards eth mining, with it now at $370. Far more however might have contributed the defi space which seems to tolerate fairly high network fees. Ethereum fees reached Venus on September the 2nd, far higher than ever before. Even higher than that one time when someone mistakenly or otherwise paid a fee of 10,000 eth for one transaction. Now they’ve calmed down quite a bit at 8,000 eth for yesterday, but that still amounts to some $3 million worth of the asset. This is now supplementing miners’ income…

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