CryptoBitcoinFractal Bitcoin Network Surges with Merged Mining Amid Market Volatility

Fractal Bitcoin Network Surges with Merged Mining Amid Market Volatility

Fractal Bitcoin, the innovative blockchain network, is currently harnessing approximately 226 exahash per second (EH/s) of Bitcoin’s hashrate through merged mining. This robust performance comes as the network’s native cryptocurrency, FB, reached an all-time high (ATH) last week before experiencing a significant drop of 61.9% within just six days.

The protocol’s impressive hashpower is bolstered by an additional 18.1 EH/s of permissionless mining, which enhances its operational capabilities. According to on-chain data, Fractal Bitcoin has successfully mined a total of 40,354 blocks, resulting in approximately 2,068,925 FB tokens in circulation. Currently, FB is trading at $12.91, giving the asset a total market valuation of $26.8 million, positioning it at 674th among over 10,000 cryptocurrencies.

Mining data reveals that around 103.4 EH/s of Fractal Bitcoin’s merged mining hashpower originates from unidentified Bitcoin (BTC) miners. The prominent mining pool Antpool contributes a substantial 82.34 EH/s to the network, while F2pool and Spiderpool add 25.48 EH/s and 7.72 EH/s, respectively. Additional permissionless mining pools include Maxipool, Moonx, Solo Fractal, and Fairpool.

Despite 2 million FB tokens being in circulation, a high concentration of wealth exists, with the top five wallets holding 32.3% of the total supply. The largest wallet alone controls 15.7%, aggregating a total of 668,631.54 FB across these five addresses. After peaking at $38.80 on September 15, 2024, FB has since faced a downturn, currently trading at $12.91.

The maximum supply of FB is capped at 200 million tokens, suggesting that its fully diluted valuation could rise to $1.3 billion at current prices. Over the last 24 hours, FB has seen a global trading volume of $18.79 million, representing a mere 0.03523% of the overall $53.352 billion in crypto trading.

Despite recent price fluctuations, mining pools are benefiting from additional revenue streams generated through Fractal Bitcoin’s sidechain mining. Each mined block yields between 32 to 34.5 FB, equivalent to approximately $495. For example, one F2pool wallet holds around $388,000 worth of 30,128.73 FB tokens, while another address commands $150,000 with 10,318.35 FB. Notably, an Antpool address boasts 22,922.6 FB, valued at $335,000.

This supplemental income is particularly valuable for miners, as profits from traditional Bitcoin mining have faced challenges. Earning over $500,000 in under two weeks underscores the lucrative opportunities presented by Fractal Bitcoin’s integrated mining approach.

Related Topics:

Share This Post

Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

Related Posts

How Long Does Cash App Bitcoin Verification Take?

In recent years, the rise of cryptocurrencies has transformed...

When Will Hong Kong Bitcoin ETFs Start Trading?

As the cryptocurrency market continues to evolve, one of...

Sui Outpaces Bitcoin and Ethereum with Bold Web3 Gaming Strategy

In September, Bitcoin and Ethereum experienced modest rebounds, rising...

Former Chinese Finance Minister Calls for Closer Scrutiny of Cryptocurrency

Zhu Guangyao, China's former minister of finance, emphasized the...

Bitcoin Marks First Three-Week Winning Streak Since February Amid Bullish Sentiment

Bitcoin (BTC) has achieved its first three-week winning streak...

Matrixport Acquires Swiss Crypto Asset Manager Crypto Finance

Singapore-based crypto financial services platform Matrixport has announced an...