Ethereum difficulty drops after hitting ATH
Ethereum’s mining difficulty has noted a significant drop over the past 24-hours, after having reached an all-time high. The difficulty is determined by the number of active miners in the Ethereum network and an increase in miners’ computational power, which often increases the difficulty.
As the mining difficulty reached an all-time high, the hash rate also surged to a peak. Now that the difficulty has fallen, the hash rate has dropped to 245.19, according to 2miners The increasing miner revenue might have contributed to a higher difficulty and hash rate, however, as the price of Ethereum dropped, both these metrics took a hit.