Cryptocurrency

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

quick take

hash rate

  • Bitcoin hash rate at 7DMA surpassed 330 TH/s, setting a new all-time high.
  • Moreover, we have only seen 6 days of negative corrections in 2023, which is quite a feat.
  • The next difficulty adjustment is scheduled for Friday, and we expect a +3% positive adjustment.
Hashrate adjustment: (Source: Glassnode)

taproot and inscription

  • The total number of inscriptions exceeded 312,000. Categorized by file type, it shows over 200,000 images and over 110,000 texts.
  • Taproot adoption accelerated again to over 18%, but still short of the all-time high of 19%.
Total number of inscriptions: (Source: Glassnode)
Total number of inscriptions: (Source: Glassnode)
Taproot: (Source: Glassnode)
Taproot: (Source: Glassnode)

The post-Bitcoin network reached record-breaking hash rates, and taproot adoption sped up, first appearing on CryptoSlate.

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