Bitcoin (BTC) had its moments of fear and greed in 2019. But despite the doubts, BTC held several significant records in the past year, showing the value of the network, and the potential for future development.
Mining Peak: The Bitcoin network hashrate reached a peak in the third quarter. Despite price action slowing down, the hashrate kept up the pace. Mining activity peaked toward the end of October, and based on different reports, ranged between 114 and 120 EH/s. The high levels were brought by peaking competition between some of the largest mining pools. Toward the end of the year, Poolin came out as the largest pool, winning more than 17% of daily block rewards. One of the reasons for the mining rush is the halving coming up in May 2020, when pools will fight for a total of 900 BTC per day, instead of the current 1,800 in block rewards.
Transaction Value Peak: BTC saw one of the most spectacular shows of transaction capacity, when more than 1.2 million coins were moved in three blocks, carrying $8.9 billion in value. The transaction peak, most likely a move of cold wallets, was ...
