Insights

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

exchange68September 13, 2024

0 1 1 minute read

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%.

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)

Analyst

James Van Straten

Former Lead Analyst at 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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