It hasn't been this easy to mine bitcoin since January 2020
July 19, 2021, 4:48AM EDT
1 min read
Bitcoin's mining difficulty has set yet another downward adjustment with a 4.81% decline over the weekend. It has now been revised to 13.67 trillion.
Network data shows that this is the lowest point in 18 months — since January 2020 — and that it's down 45% from its recent high of 25.05 trillion that held through the two weeks between May 13 and 30. It follows the largest ever network difficulty ease recorded on July 3, which saw a plunge of nearly 28%.
This also marks the fourth consecutive drop of bitcoin's mining difficulty since China's systematic crackdown on bitcoin miners that started in May 21. The last time when the network's mining difficulty recorded negative adjustments for more than four times in a row was in 2011.
As a result, for every terahashes per second (TH/s) of computing power that is running on the network, the 24-hour mining results in theory have jumped up to around 0.00000931 bitcoin.
That being said, the drop rate over the weekend has slowed down as the network's hash rate has stabilized over the past two weeks, showing signs that it's on a slow recovery, The Block's Data Dashboard shows.
Following China's crackdown orders, local miners have accelerated their migration process — that already started before the crackdown — to overseas regions like Russia, Kazakhstan and North America.
Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency.
The Canadian Securities Administrators, an umbrella group for securities regulators in the country, alongside a self-regulatory organization for the investment industry, has released new guidance for crypto exchanges on the use of social media as well as advertising and marketing.
LMAX Group robust technology and familiar institutional grade trading infrastructure (currently processing over 2 billion orders per day in the global FX market) is the solid backbone of LMAX Digital, delivering access to deep institutional liquidity, transparent price discovery, a regulated trading environment and a full custodian trading solution.