2024-05-23 21:01:56

#ETH vs SOL, which one do you prefer? Difficulty Increases with Positive Ethereum ETF Development in Bitcoin!

Ethereum ETF expectations have even impacted Bitcoin mining.
Bitcoin mining difficulty rate (hash rate) increased by 1.5% on May 23rd, reaching 84.4 trillion. In parallel, the seven-day moving average hash rate of the network surpassed 600 EH/s.
Bitcoin hash rates had experienced a significant drop after the halving. The latest Bitcoin difficulty adjustment on May 9th resulted in a decline of 5.9%, the largest decrease since the bear market lows in December 2022.
Hash rate remained relatively stable in the range of 580-590 EH/s after this drop and it was expected to remain unchanged initially after today's adjustment.
However, the expectations for spot Ethereum ETF and the recent movements in the cryptocurrency market have led to the revival of hash rates.
Before and during the Bitcoin halving, the Runes protocol and other opportunities on the network significantly raised the difficulty rate.
Shares are for informational purposes
This is not investment advice.
Stay tuned for updates

ETH-4,01%

SOL-3,26%

BTC-2,39%

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