Almost 90% Bitcoin Hashrate Signals Taproot Activation

It’s been just revealed that more than almost 90% of Bitcoin hashrate signals taproot activation. 

Taproot is a softfork to the Bitcoin network that will improve the scripting capabilities and privacy, according to the official website.

“It enables something called MAST, which can help to make smart contracts more efficient and private by only revealing the relevant parts of the contract when spending. It can also improve the privacy of the Lightning Network by making channels look like regular bitcoin transactions, if the Lightning implementations choose to adopt Taproot,” the same notes reveal.

You can read more about Taproot’s benefits in this Bitcoin Magazine article.

Bitcoin in the news

It’s been just revealed thayt an analyst of the crypto market said that the Bitcoin bull market is still intact despite the fall in the price of the king coin.

Will Clemente is now looking at on-chain activity and concluded that the Bitcoin bull market is not yet over.

He pointed to activity on crypto exchanges which he says indicates that deep-pocketed investors bought the BTC dip as fear gripped the market.

“Speaking of exchange flows, one of the largest exchange outflows of the year took place amidst all the panic. OTC outflows also spiked during the dip; it appears big money bought the fear.”

Bitcoin adoption explodes

Regardless of the market manipulation, the adoption of Bitcoin and digital assets is going great.

CNBC learned that Bitcoin could be taking another massive step towards the mainstream adoption in 2021.

It’s been revealed that the customers of some US banks will be able to buy, hold and sell BTC via their already existing accounts, says crypto custody firm NYDIG.

Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $44,570.05.

Stay tuned for more news.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.