Ethereum's Hashrate Reaches New All-Time High Amid Market Bloodbath

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Ethereum faces a new all-time high in mean hashrate as the crypto market is tumbling down

. In order to do so, users have to move 32 ETH to the contract that will lock those funds until the user decides to withdraw his or her Ether from the network.At press time, Ethereum is mostly following the general trend on the cryptocurrency market and losing approximately 5% of its previously gained value. The last week also was not a relief for ETHas the second-largest cryptocurrency has lost more than 17% of its value in a matter of four days.

Currently, Ethereum is moving at September's price level and has already lost more than 45% from its current all-time high reached back in November 2021.

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As they abandon mining completely.

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