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Bitcoin Hashrate Rises Despite a Drop in Price

Bitcoin’s hashrate has increased a great deal, even after the leading crypto asset’s price slipped below the $50K price zone. Eight days ago the network hashrate was coasting along at 168 exahash per second (EH/s), and this past week it increased 7. 73% to today’s 181 EH/s.

Bitcoin’s Hashrate Climbs Higher After Difficulty Decline

Following the price drop under the $50K zone, Bitcoin’s (BTC) hashrate remains strong and has increased more than 7% higher during the last week. At the time of writing, BTC‘s hashrate on Sunday is 181. 59 EH/s as the network’s processing power has been reaching daily highs.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin (BTC) hashrate three month metrics on December 5, 2021, according to Coinwarz stats.

Three month statistics indicate BTC‘s hashpower tapped 190 EH/s on Friday, December 3. Metrics show that the network’s hashrate reached an all-time high on May 9, 2021 at 191. 42 EH/s. One reason the hashrate remains high despite the recent price drop is because the network’s mining difficulty has dropped during the last difficulty change on November 28.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin (BTC) hashrate all-time metrics on December 5, 2021, according to Coinwarz stats.

The change that day saw BTC‘s first mining difficulty decrease since July 17. It was 1. 49% less difficult to mine BTC. The current difficulty is 22. 34 trillion and at the current rate of processing power, the next difficulty is estimated to increase 1. 17% to a possible 22.6 trillion.

Close to 20 Exahash of Stealth Miners Consume a Great Number of Blocks for 50 Days Straight

There are only 13 known pools dedicating SHA256 hashpower to the Bitcoin blockchain and unknown hashrate otherwise known as stealth miners command 11. 75% (19. 84 EH/s) of the network’s hashpower.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin mining distribution by pool on December 5, 2021.

Bitmain’s Antpool is the largest miner in terms of network hashpower today with 17. 94% (30. 28 EH/s) of the hashrate. The second-largest mining pool on December 5 is Foundry USA with 16. 49% or 27. 84 EH/s of hashpower. Just above Foundry USA is F2pool, which commands 13. 20% of hashrate or 22. 27 EH/s.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin mining distribution by pool on December 5, 2021.

From mid-October to now, an unknown amount of hashrate or stealth miners has been prominent on the network. For 50 days straight the unknown hashrate has consumed a great number of BTC blocks.

Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Unknown hashrate stats have increased since mid-October 2021.

Since 2009 stealth miners have found 226,000 BTC block rewards and during the last six months 1,957 blocks were discovered by unknown hashrate.

Hashpower, which comes from many regions around the world, is mainly from countries like the United States, Kazakhstan and the Russian Federation, Canada.

What do you think about Bitcoin’s hashpower increasing after the difficulty decrease and despite the recent price drop? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Btc.com, Coinwarz.com,

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Bitcoin Demand Shows Signs of Cooling as Whale and ETF Purchases Halve: Cryptoquant

Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
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Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
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XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…


  • Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
  • The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
  • Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

XCN chart by CoinMarketCap

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”


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