Ethereum Hashrate Hit Record High in November

Reading Time: < 1 minute

The Ethereum network hashrate hit a record high of 818.39 TH/s on November 12. This happened shortly after the price of ETH broke above the level of $4,700.

The price-correlated Bitcoin hashrate fell by 8.4% in November. At the end of the month, the leading crypto fell by 7.14%, breaking the usual dynamic for the end of the year.

The largest share in BTC fell on AntPool, but in mid-November, US mining pool Foundry came out on top for a short time – at the moment its share exceeded 21%.

As a result of the last recalculation (November 28), the difficulty of Bitcoin mining fell by 1.49%.

Amid the hype around NFTs, metaverse tokens and the growth of the DeFi space in general, the average Ethereum transaction fee surpassed the $60 mark in early November.

In the first half of the month, the average Bitcoin transaction fee was predominantly in the $3- $4 area. After activating the Taproot update, the indicator only once exceeded the $3 mark (November 20), being mostly at the level of $2.50.

The November volume of production of Ethereum miners also set a record – $3.59 billion. The income from fees for ETH transactions accounted for more than half of the total revenue – $1.82 billion.

Bitcoin miners have mined $1.68 billion of BTC – 2% less than in October. The share of fees-related income in total income only amounts to 1.48%.