- Bitcoin saw a strong uptrend in the daily transaction count compared to the previous cycle.
- The active addresses and volume declined over the past month.
Bitcoin [BTC] recently achieved the impressive milestone of 1 billion transactions. Its total all-time transaction count stood at 1,000,803,494 at press time.
Its price was back above the $62k mark but lacked a strong short-term trend.
The news of one 10-year-old dormant BTC wallet moving its holdings sparked interest.
However, the past two months saw a large buying spree from BTC whales, which sets up the idea of a strong bull run. The network security was also firm.
Examining the transaction count
Source: CryptoQuant
The daily transaction count has slowly trended higher over the past year, seeing a lull from January to March before trending higher from March to mid-April.
It saw a huge spike on the 23rd of April, reaching 921k transactions for the day.
The activity was much higher than what it was four years ago. Also, the past cycle’s bull run transaction count was already overshadowed by the activity of the past year.
This was a positive sign of increased adoption and usage.
Source: CryptoQuant
The hash rate also trended firmly higher. This indicated that miners will need to spend more energy to secure the network, which also makes it harder for external entities to seize control of the network.
This security is hugely comforting for long-term investors and the cornerstone for Bitcoin’s value.
Transaction volume showed a short-term downturn
Source: Santiment
In February and March 2024, the price of BTC rallied from $42.1k to $73k. The 7-day moving average transaction volume also steadily trended higher.
The periodic dips account for the drop in activity during the weekends.
Even though the transaction count was high, the volume has fallen compared to the local peak in March. The daily active addresses have also slowly lost steam in the past five weeks.
Therefore, the activity has trended higher over the past year, but in the past month, there has been a downturn.
Read Bitcoin’s [BTC] Price Prediction 2024-25
Comparison with other networks shows that BTC pales in terms of daily transaction count.
Ethereum [ETH] has averaged 1.1 million transactions a day in the past two months, reaching a high of 1.96 million on the 14th of January.
- Bitcoin saw a strong uptrend in the daily transaction count compared to the previous cycle.
- The active addresses and volume declined over the past month.
Bitcoin [BTC] recently achieved the impressive milestone of 1 billion transactions. Its total all-time transaction count stood at 1,000,803,494 at press time.
Its price was back above the $62k mark but lacked a strong short-term trend.
The news of one 10-year-old dormant BTC wallet moving its holdings sparked interest.
However, the past two months saw a large buying spree from BTC whales, which sets up the idea of a strong bull run. The network security was also firm.
Examining the transaction count
Source: CryptoQuant
The daily transaction count has slowly trended higher over the past year, seeing a lull from January to March before trending higher from March to mid-April.
It saw a huge spike on the 23rd of April, reaching 921k transactions for the day.
The activity was much higher than what it was four years ago. Also, the past cycle’s bull run transaction count was already overshadowed by the activity of the past year.
This was a positive sign of increased adoption and usage.
Source: CryptoQuant
The hash rate also trended firmly higher. This indicated that miners will need to spend more energy to secure the network, which also makes it harder for external entities to seize control of the network.
This security is hugely comforting for long-term investors and the cornerstone for Bitcoin’s value.
Transaction volume showed a short-term downturn
Source: Santiment
In February and March 2024, the price of BTC rallied from $42.1k to $73k. The 7-day moving average transaction volume also steadily trended higher.
The periodic dips account for the drop in activity during the weekends.
Even though the transaction count was high, the volume has fallen compared to the local peak in March. The daily active addresses have also slowly lost steam in the past five weeks.
Therefore, the activity has trended higher over the past year, but in the past month, there has been a downturn.
Read Bitcoin’s [BTC] Price Prediction 2024-25
Comparison with other networks shows that BTC pales in terms of daily transaction count.
Ethereum [ETH] has averaged 1.1 million transactions a day in the past two months, reaching a high of 1.96 million on the 14th of January.
cost of generic clomid online cost of generic clomid online how to get cheap clomid no prescription how to buy clomiphene can i purchase cheap clomid without rx clomiphene without rx buy cheap clomiphene
Thanks for sharing. It’s acme quality.
The vividness in this serving is exceptional.
azithromycin for sale – floxin 400mg pills metronidazole 200mg oral
buy semaglutide 14 mg for sale – buy cyproheptadine 4 mg generic periactin drug
buy domperidone pills for sale – cyclobenzaprine canada buy flexeril 15mg
inderal 20mg generic – buy generic propranolol methotrexate 2.5mg pill
order augmentin without prescription – https://atbioinfo.com/ ampicillin drug
purchase esomeprazole without prescription – https://anexamate.com/ cheap esomeprazole 20mg
order coumadin 5mg generic – https://coumamide.com/ buy cozaar 50mg online cheap
buy mobic cheap – relieve pain buy mobic 7.5mg online
prednisone 20mg oral – aprep lson buy deltasone 10mg pills
buy generic amoxil – combamoxi amoxicillin uk
purchase cenforce online – cenforcers.com order cenforce 100mg online cheap
cialis soft tabs canadian pharmacy – https://ciltadgn.com/ cialis stopped working
super cialis – https://strongtadafl.com/ cialis vs tadalafil
viagra pill 50mg – https://strongvpls.com/ cheap viagra for women
This is the amicable of glad I enjoy reading. https://buyfastonl.com/furosemide.html
I couldn’t turn down commenting. Profoundly written! fildena espaГ±a
The thoroughness in this piece is noteworthy. https://ursxdol.com/clomid-for-sale-50-mg/
More posts like this would add up to the online time more useful. https://prohnrg.com/product/orlistat-pills-di/