Apr 22, 2021

The average commission on the btc network has exceeded$60

Against the backdrop of a rapid drop in hashrates due to power outages in China, the average commission on the Bitcoin network has exceeded $60. The last time the same high rate was observed at the end of 2017 – at the peak of the last bull market cycle.

Along with the growth of commissions, the hashrate of bitcoin is decreasing – from the maximum at marks above 170 EH/s, the indicator smoothed by the 7-day moving average fell to the level of 143 EH/s (-18%).

The drop in the unaveraged hashrate within two days was 46% (from 197 EH/s to 106 EH/s).
Reducing the total computing power of the network with the same complexity led to an increase in the interval between blocks to 15 minutes.

So far, the complexity of the network of the first cryptocurrency is at a record high level – 22.24 T. The BTC.com service predicts a decrease in the indicator by 5.69% based on the results of the upcoming recalculation of complexity, which will take place approximately in 12 days.

On April 19, the longest interval between two blocks in recent years was recorded in the bitcoin blockchain. According to Blockchain.com, block #679785 was mined at 15:12 Moscow time, followed by #679786 at 17:14 Moscow time. This means that some users had to wait more than two hours for the deposit to be credited.

Recall that the decrease in hashrate began with power outages in several provinces of China, where significant Bitcoin mining capacities are concentrated. Shortly thereafter, the price of bitcoin dropped by almost $10 000.

Start using benefits of crypto now!

Read our blog to learn more about cryptocurrency and how you can use it for everyday life.

©2019—2021 BERTES INVEST OU

EX Pi trade ® is registered trademark of Bertes Invest OU. Bertes Invest OU (reg. No 12449024) is registered in Estonia with its registration address at Harju maakond, Tallinn, Kristiine linnaosa, A. H. Tammsaare tee 47, 11316, Estonia. Bertes Invest OU operates under Financial services, Providing a virtual currency services license (license number: FVT000291), issued by Estonian Financial Intelligence Unit. Contact phone number: +371 203 15 058; e-mail: info@expi.trade.

Risk Awareness

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. Trading or holding funds in cryptocurrencies comes with significant risks, including volatile market price swings or flash crashes, market manipulation. Use EUPi stable coin to secure your funds from market volatility.