- Bitcoin’s hash rate showed resilience, while BTC struggled to cross the $70k mark.
- European regulatory response targets potential market abuse risks associated with MEV.
Unlike previous years, the fourth Bitcoin [BTC] halving was quite different. While miners’ block subsidy rewards have now been reduced from 6.25 BTC to 3.125 BTC, they continue to earn additional transaction fee rewards for each block mined.
In past halvings, Bitcoin’s hash rate dropped due to insufficient transaction fee rewards. This time, the hash rate stayed near all-time highs, rising from 630 EH/s to 640 EH/s post-halving, driven by increased transaction fee rewards.
However, at the time of writing, it dropped back to 602 EH/s.
Source: Glassnode
Additionally, while Bitcoin’s hash rate showed resilience, on the other hand, its price seems to be struggling to cross the $70k mark.
What metrics suggest about Bitcoin mining
According to on-chain data from The Block, Bitcoin’s hash rate has been declining since 26th May, indicating potential risks to the network. In such situations, miners might struggle to generate profits from their operations.
Source: The Block
This was further confirmed by Glassnode’s, miners’ revenue block data. As of the latest update, on-chain data shows that miners’ revenue has dropped significantly to 384.375 BTC, down from 525 BTC on 26th May.
Source: Glassnode
However, some still view this situation as a net positive for Bitcoin, as highlighted in a recent InvestAnswers stream.
“That is good because typically miners wouldn’t jump in to mine Bitcoin unless the price is going up and big enough to sustain a lot of this.”
Looking at the Bitcoin mining difficulty data, it can be seen how hard it is to find the right hash for each block. Please note that this difficulty doesn’t affect the price of the mined BTC. So, BTC’s prices play an important role in determining the profitability of miners.
What’s the matter around MEV?
But block rewards aren’t the only way for miners to earn. Maximum Extractable Value (MEV) refers to potential profits that miners can get by applying strategies like frontrunning, sandwich attacks, etc. that rely on their ability to reorder transactions in a block.
Recognizing the threat that MEV can pose to investors, the European Securities and Markets Authority (ESMA) recently shared its plan to restrict MEV utilized by miners and validators, considering it as potential market abuse.
While the proposal is still in the draft stage, stakeholders have until June’s end to comment. If it gets approved, it could have significant implications for validators and miners worldwide.
- Bitcoin’s hash rate showed resilience, while BTC struggled to cross the $70k mark.
- European regulatory response targets potential market abuse risks associated with MEV.
Unlike previous years, the fourth Bitcoin [BTC] halving was quite different. While miners’ block subsidy rewards have now been reduced from 6.25 BTC to 3.125 BTC, they continue to earn additional transaction fee rewards for each block mined.
In past halvings, Bitcoin’s hash rate dropped due to insufficient transaction fee rewards. This time, the hash rate stayed near all-time highs, rising from 630 EH/s to 640 EH/s post-halving, driven by increased transaction fee rewards.
However, at the time of writing, it dropped back to 602 EH/s.
Source: Glassnode
Additionally, while Bitcoin’s hash rate showed resilience, on the other hand, its price seems to be struggling to cross the $70k mark.
What metrics suggest about Bitcoin mining
According to on-chain data from The Block, Bitcoin’s hash rate has been declining since 26th May, indicating potential risks to the network. In such situations, miners might struggle to generate profits from their operations.
Source: The Block
This was further confirmed by Glassnode’s, miners’ revenue block data. As of the latest update, on-chain data shows that miners’ revenue has dropped significantly to 384.375 BTC, down from 525 BTC on 26th May.
Source: Glassnode
However, some still view this situation as a net positive for Bitcoin, as highlighted in a recent InvestAnswers stream.
“That is good because typically miners wouldn’t jump in to mine Bitcoin unless the price is going up and big enough to sustain a lot of this.”
Looking at the Bitcoin mining difficulty data, it can be seen how hard it is to find the right hash for each block. Please note that this difficulty doesn’t affect the price of the mined BTC. So, BTC’s prices play an important role in determining the profitability of miners.
What’s the matter around MEV?
But block rewards aren’t the only way for miners to earn. Maximum Extractable Value (MEV) refers to potential profits that miners can get by applying strategies like frontrunning, sandwich attacks, etc. that rely on their ability to reorder transactions in a block.
Recognizing the threat that MEV can pose to investors, the European Securities and Markets Authority (ESMA) recently shared its plan to restrict MEV utilized by miners and validators, considering it as potential market abuse.
While the proposal is still in the draft stage, stakeholders have until June’s end to comment. If it gets approved, it could have significant implications for validators and miners worldwide.
Thank you for the auspicious writeup It in fact was a amusement account it Look advanced to more added agreeable from you By the way how could we communicate
can you buy cheap clomid online can i order clomid without insurance where to buy cheap clomid no prescription says: can i order cheap clomid online where to buy generic clomid price can i order generic clomiphene without rx clomid pregnancy
Good blog you possess here.. It’s obdurate to espy high worth writing like yours these days. I justifiably appreciate individuals like you! Go through mindfulness!!
Thanks on sharing. It’s acme quality.
buy azithromycin no prescription – purchase sumycin pills cost flagyl 200mg
semaglutide 14mg oral – semaglutide over the counter cyproheptadine 4 mg oral
domperidone online order – buy domperidone without prescription flexeril buy online
buy generic nexium over the counter – https://anexamate.com/ esomeprazole 40mg cost
buy warfarin online – coumamide.com buy cheap losartan
buy meloxicam 15mg online cheap – https://moboxsin.com/ buy mobic 15mg
deltasone 10mg uk – corticosteroid buy deltasone pills
amoxil for sale online – comba moxi amoxil sale
buy fluconazole 100mg pills – click fluconazole 100mg pills
cenforce 100mg us – https://cenforcers.com/# generic cenforce 100mg
where to get free samples of cialis – https://ciltadgn.com/# buy cialis generic online 10 mg
canadian pharmacy cialis 20mg – https://strongtadafl.com/ best place to buy generic cialis online
buy viagra soho – sildenafil 50 mg buy online india viagra 50 mg
I am in truth thrilled to gleam at this blog posts which consists of tons of of use facts, thanks representing providing such data. https://buyfastonl.com/azithromycin.html
More posts like this would make the blogosphere more useful. on this site
Thanks an eye to sharing. It’s outstrip quality. https://prohnrg.com/product/get-allopurinol-pills/
I am in point of fact happy to gleam at this blog posts which consists of tons of profitable facts, thanks object of providing such data. aranitidine
The depth in this serving is exceptional. https://ondactone.com/spironolactone/
I am in truth delighted to coup d’oeil at this blog posts which consists of tons of profitable facts, thanks object of providing such data.
https://doxycyclinege.com/pro/warfarin/
This website positively has all of the tidings and facts I needed adjacent to this case and didn’t positive who to ask. http://iawbs.com/home.php?mod=space&uid=915031
cost dapagliflozin – forxiga pills brand dapagliflozin