Bitcoin witnessed a rare event on its blockchain, here's what happened BTC Crypto
Per the graphic posted by Wu Blockchain, the interval between the two recent blocks mined by Foundry USA and Luxor was 85 minutes. The reason for the delay remains unknown.
Block times often determine how long it takes to transfer cryptocurrencies, and Bitcoin block times are an average of 10 minutes. In 2021, China intensified its crackdown on cryptocurrency and mandated the shutdown of Bitcoin mining. Before the crackdown, China was quickly becoming the hub of the cryptocurrency industry, giving a boost to large crypto exchanges like Binance and the largest Bitcoin mining companies. Beijing's move to banish cryptocurrency trading and mining was announced in September 2021., Bitcoin hashrate set a record high of 325.11 EH/s on Oct. 11, at block 758,138. The Bitcoin difficulty was thus adjusted to a new all-time high of 35.6 trillion hashes due to a rapid increase in network hash power.
Nonetheless, Bitcoin's price continues to waiver below the $20K mark in lackluster trading. At press time, Bitcoin was trading at $19,432, up 1.51% in the last 24 hours.
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