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Bitcoin ETFs bring in over $6 billion in November after another $1 billion day Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees
Bitcoin network reaches record-breaking hash rate while taproot adoption picks up speed Bitcoin network reaches record-breaking hash rate while taproot adoption picks up speed James Van Straten · 2 years ago
Insights Bitcoin

Bitcoin network reaches record-breaking hash rate while taproot adoption picks up speed

Positive trend continues: Only a few days of negative hash rate adjustments in 2023

James Van Straten / @jvs_btc / Mar. 6, 2023 at 5:39 pm UTC

Quick Take

Hash Rate

  • A 7DMA Bitcoin hash rate has exceeded 330 TH/s, a new all-time high.
  • In addition, only six days of 2023 have seen negative adjustments, quite the feat
  • The next difficulty adjustment is projected for Friday with an expected positive adjustment of +3%.
Hash Rate Adjustment: (Source: Glassnode)
Hash Rate Adjustment: (Source: Glassnode)

Taproot and Inscriptions

  • The total number of inscriptions has surpassed 312,000. Broken down by file type, it sees over 200,000 images and 110,000 texts.
  • While taproot adoption has re-accelerated to over 18%, just shy of the all-time high of 19%.
Inscriptions Total Count: (Source: Glassnode)
Inscriptions Total Count: (Source: Glassnode)
Taproot: (Source: Glassnode)
Taproot: (Source: Glassnode)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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