— DASH (@Dashpay) April 29, 2019
Dash reached a new all-time high for its mining hashrate, surpassing the record previously set in November of 2018, indicating an increase in investment in the network’s infrastructure despite a lagging price.
According to data from BitInfoCharts, the dash network’s mining hashrate has reached a new all-time high of 3.2385 petahashes on the 19th of April, breaking the previous record of 3.237 petahashes reached in early November of 2018. At the time of the previous record Dash’s price was about $154, while at the time of this most recent record it was about $124, representing an increase in mining power despite a price decline over the same period. At time of writing, the hashrate remains at 3.275 petahashes, with a price of about $108 per Dash.
Dash’s hashrate has historically remained resilient to price drops
The Dash hashrate has proven over the years to remain strong despite significant market downturns. A higher hashrate is the result of more mining power appearing on the network, which in turn reduces the total amount of Dash awarded to each individual miner. The hashrate can then be expected to rise during price increases where a reduced Dash reward per individual miner is worth the same or more than it was previously, or when newer mining hardware enables a higher hashrate to be achieved for a lower cost. Since the all-time high in the price of Dash in late 2017, however, the hashrate has remained relatively stable, and has increased as well, despite a decline in the price of Dash of about 95% over this period. This may indicate that, in addition to newer mining hardware being developed, Dash miners may be mining at a temporary loss with an expectation of future rewards long-term.
Masternode count nears new high, recovering from deterministic spork activation
In addition to mining hashrates, Dash’s masternode count has increased as well, approaching its previous all-time high. At present there are 4,837 masternodes operational on the network, fast approaching the previous record of 4,912 in February. Since the previous record, Dash’s 0.13 upgrade was implemented, including the recreation of all masternodes as deterministic masternodes, and the activation of spork 15 at the beginning of this month knocked offline several hundred nodes that had not yet upgraded. Since then, counts have largely recovered and increased, indicating that investment in the Dash network is rising despite the bear market.