Monero Hashrate Reaches Six-Month High Near January Record

Monero (XMR) reached 7.17 gigahashes per second Tuesday, a six-month high in network hashrate near January's record.

The four largest mining pools supplied 75% of the network's computing power. Mining pools let individual miners contribute their computing capacity together.

XMR previously rose to $647 on Oct. 22, its highest price since January, in an advance covered in an earlier report on the move to a three-month high. The $600-$650 area remains a supply zone from earlier this year. A recent dip took XMR to $564 before it rebounded to $600.

On the weekly chart, the relative strength index was just above 70. Weekly trading volume had remained mostly at or below its 20-week average since June.