The hash rates of Bitcoin and Litecoin have increased exponentially during the last year
litecoin It is one of the largest and most known virtual currencies on the market. It has a large development team behind it and always implements updates that will be subsequently adopted by Bitcoin. The ecosystem around this cryptocurrency continues to expand.
Compared to October 2017, Litecoin hash rate rose by over 750%, according to some reports. However, since June 2018, the network has lost about 25% of the hash rate. There are several miners who prefer to extract Litecoin rather than Bitcoin because it is easier and easier to do it. At the same time, the merger of Litecoin and Dogecoin allows miners to be even more incentivized.
In June 2018, litecoin has reached a record in the hash rate near 350 hash Tera. Although there are some miners who prefer to invest in Litecoin mining, some users are moving towards the simplest cryptocurrencies towards mine.
During bear markets, miners tend to leave mining activities. The price of some virtual currencies is not sufficient to cover the running costs of a mining crypto plant. It is necessary to pay hardware this is very expensive and even the electricity bills consumed by miners.
If there is another race in the bull cryptocurrency marketThis would clearly help the miners to start being profitable again. This would also contribute to increasing the hash rate and making the network even safer than before.
Bitcoin hash rate it also recorded a significant increase in the last year. The hash rate grew almost 400% compared to a year ago. However, in recent months, Bitcoin hash rate fell around 15%. The bear market involved both the mining activities of Bitcoin and Litecoin.
At the time of writing, Bitcoin (BTC) is trading around $ 6,344, while litecoin it is trading at $ 49 dollars.