Bitcoin is off to a good start this year. The largest cryptocurrency on the market has witnessed many extraordinary achievements this year, hitting a record high, and is now trading at more than $48,000.
With Bitcoin’s on-chain transaction volume exceeding $17 billion in the past 24 hours, its outstanding performance in the financial sector will continue.
Bitcoin’s on-chain transaction volume has increased by 18%, and the annual transaction volume totals more than $6 trillion, which is half of Visa’s payment volume. The daily transaction volume of Bitcoin is currently 6.88% higher than a year ago, and we are still in the second month of the new year.
Now, some experts have concluded that Bitcoin will undoubtedly become the world’s largest trading network. Bitcoin’s transaction value depends on the increased interest in cryptocurrencies or a more optimistic market. A larger audience has led to the growth of the crypto market, and Bitcoin adoption is now rapidly increasing.
Bitcoin has ushered in a wave of new institutional allocations, and its value has more than doubled since last year. Cryptocurrency has left a deep impression on the traditional financial world, and many institutions now want to taste similar uses of Bitcoin.
The attraction of these institutions is Bitcoin’s victory because they tend to have a large number of investors and customers. The value of Bitcoin soared by 14% on February 8th because Elon Musk and his company Tesla (Tesla) deployed $1.5 billion worth of Bitcoin. Many institutions that manage billions of dollars have already purchased BTC in the new wave and see them accumulate Bitcoin in the near future to obtain high returns.
Bitcoin’s unique investment advantages are gradually being accepted by traditional asset managers.
This year, Bitcoin’s on-chain data looks stronger, which shows that Bitcoin’s growth is on the rise. The number of active addresses on the Bitcoin network continues to grow. The increase in the number of addresses indicates an increase in adoption and investor activity. Bitcoin’s active addresses now exceed 1.34 million, which is an increase of 8.80% since 24 hours this year. The record high after that.
The number of active entities on the Bitcoin protocol has now exceeded 510,000, an increase of 25% from its 2017 all-time high, which indicates that active usage on the Bitcoin blockchain is improving.
Bitcoin is expected to continue to grow, and its adoption rate will rise every day, and the market’s interest in cryptocurrencies will also continue to grow. It seems no secret that this will directly affect activities on its network.
Bitcoin currently has more than 200 million wallets and 400,000 daily active users . Perhaps these numbers will double in the next few months.
The original text comes from zycrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.