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Sunday, October 24, 2021

America and India has taken the lead now

America has overtook China in Mining Hashrate

According to the new data revealed the USA has become the leading country for mining the most Bitcoin. The news showed that around the total of 35% total mining hashrate came from the USA. It describes the total computational power that is used to mine Bitcoin.

Over the course of few months, this percentage has greatly increased. As of April America only contributed to about 16.8% which has doubled itself.


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China was at one point the leading country for mining and was contributing the most. But a few months back the crackdown against the miners came when questions regarding climate change came and major developments started happening to tackle the mining. As the crackdown happened the global hashrate also dropped as a lot of miners shut down which meant that a lot of people came forward to have a greater block reward. Bitcoin in the past have been facing backlash for power consumption which eventually led to the crackdown.

India has the most Cryptocurrency holders

According to a report, India has the most cryptocurrency holders in the world. The study was released by BrokerChoose in their annual proliferation index which stated that around 100M people hold cryptocurrency. By percentage of the total population, India is ranked at the 5th position.

According to a study, in the past year alone India’s market has grown by 641% in the past year.

It is quite a surprise that so many people in India hold cryptocurrency as it is yet to become legal in the country. In the past different news have been published that were both on the side and against Bitcoin. A survey concluded stated that majorly the people have invested in Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), and XRP.

 

Bitcoin has rallied around 50% in the past few months. It can be expected for the price to go even more high.  Many different exchange platforms such as WazirX offer around $1.

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