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
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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)
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James Van Straten
James Van Straten
Former Lead Analyst 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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