On-chain transactions have been steadily increasing through most of 2018.
After bottoming in early 2018 when fees peaked due to network congestion, the number of transactions have been steadily increasing.
All the while, fees have stayed relatively subdued due to SegWit being widely adopted.
Now, transaction numbers are getting back to the place they were during 2017, during much of the most recent major bull run.
Don't believe me, check this out:
(Source:
)https://twitter.com/ArminVanBitcoin/status/1086181428981846016
- ArminVanBitcoin
The average daily on-chain transaction total is now roughly 325k per day.
Not only are those numbers on par with the 2017 bull run for bitcoin, but we are seeing numbers we have only really bested one time in bitcoin's history.
As you might have guessed, that was when prices peaked in December of 2017.
Check it out:
(Source:
)https://twitter.com/ArminVanBitcoin/status/1086181428981846016
- ArminVanBitcoin
Why is this happening?
This is on-chain transactions, so I believe none of the new lightning network activity is being counted, though I am not completely sure on that one.
This either means there is an increase in adoption or an increase in trading.
Either way, it is only good news for bitcoin and bitcoin investors as it means bitcoin is a long ways from dying like some would have you believe.
Stay informed my friends.
