Simply because people are still mining. All the miners believe that Ether will return back to its $400 days soon. It’ll take a while before difficulty starts decreasing, that only happens when the price drops down significantly for a long time.
Read moreDid ETH mining difficulty increase?
The original Ethereum blockchain came with an intrinsic feature that increased the difficulty of mining over time —the more blocks that were mined, the more difficult and time-consuming it became to mine the next block.
Read moreWhat is current Ethereum Hashrate?
The current Ethereum hashrate is 1.08 PH/s , representing the global Ethereum network hashrate with a mining difficulty of 12.91 P at block height 14,265,607.
Read moreWhy is Ethereum mining difficulty so high?
If the number of miners increases, the network hashrate goes up. The effective block find time becomes lower than the preset value . As a result, the network gradually increases its difficulty, that is, the difficulty of a problem that miners are solving.
Read moreIs Ethereum difficulty increasing?
Ethereum Difficulty Bomb Meaning According to Tim Beiko, Ethereum’s block time could rise by 487% five months after the difficulty bomb , adding 64 seconds.9 Mar 2022
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