In a remarkable turn of events, the hash rate of Bitcoin ($BTC) has surged to an impressive 1-month high, reaching a staggering value of 965,744,207,398,741,999,616. This surge in hash rate, a key indicator of the computational power involved in mining Bitcoin, reflects a robust and resilient network, solidifying Bitcoin’s position as the leading cryptocurrency.
This milestone is a follow-up to the previous 1-month high of 928,712,351,104,849,018,880, recorded on 29 July 2023. The consistent growth in hash rate underlines miners’ continuous interest and commitment to the Bitcoin network, further enhancing its security and efficiency.
HODLer Activity Hits Record Levels
Simultaneously, the Bitcoin HODLer community has been displaying significant activity. The net position change of Bitcoin HODLers has reached an impressive 1-month high of 42,023.169. This metric represents the change in the overall holdings of long-term Bitcoin investors, showcasing a strong inclination towards holding and accumulating the cryptocurrency.
Additionally, another remarkable achievement has been observed in the Bitcoin ecosystem. The number of addresses holding 1 or more Bitcoin coins has reached an all-time high (ATH) of 1,015,299. This increase in the number of addresses holding significant amounts of Bitcoin signals a growing interest from individual investors and entities in becoming a part of the Bitcoin network.
The previous ATH for the number of such addresses was recorded on 20 August 2023, with a count of 1,015,241. This recent uptick in the number of addresses demonstrates the expanding adoption of Bitcoin and highlights the increasing diversity of participants within the cryptocurrency space.
The surge in hash rate showcases the network’s robustness, the increased activity of HODLers reflects a strong belief in Bitcoin’s long-term value, and the rising number of addresses holding significant amounts indicates a broader acceptance of the cryptocurrency’s potential despite the recent turbulence stirred by SpaceX’s Bitcoin sale that caused FUD.
Source: https://blockchainreporter.net/bitcoin-hash-rate-surges-to-1-month-high/