Bitcoin's on-chain daily transactions hit 15 month high

29 Mar, 2019
by Richard Allen
Bitcoin
Bitcoin's on-chain daily transactions hit 15 month high

New data has revealed that the 15-month bear market hasn’t negatively impacted Bitcoin’s usage or adoption as on-chain transactions are now where they were in January 2018, Bitcoinist reports.

Data from Blockchain has revealed the latest spike to nearly 400,000 confirmed on-chain transactions in a period of 24 hours. This is the highest network activity since Bitcoin was trading above $10,000 in January last year.

According to the publication, Bitcoin payments using SeggWit have been rising in proportion its on-chain transactions. SegWit payments now make up almost than half of the on-chain transactions.

Additionally, the Bitcoin network is routinely producing blocks over the 1MB block size limit that was implemented before SegWit made 4MB blocks a reality.

According to Blockchain, the daily average block size has spiked to 1.2MB, though blocks over 2MB are no longer uncommon.  

Chepicap reported recently that Weiss Ratings annual report gave XRP, EOS and Bitcoin an ‘A’. In Bitcoin’s case, Weiss ratings stated it was due to the likelihood of BTC becoming a popular store of value.

Read more: Weiss Ratings annual report: XRP, EOS, and Bitcoin all score an 'A' rating

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Chepicap is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!

 

Read more: How to tip and receive Bitcoin via the Lightning Network with Tippin.me

Read more about: Bitcoin (BTC)

Poll

What's the next move for Bitcoin?

(83 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage