The crypto-ecosystem is often laced with unpredictability and risk, with the market indulging in wild price swings. Bitcoin, to the joy of small-term investors, has improved its valuation by almost 125 percent in 2019, at press time. It’s valuation peaked at 131 percent a few days previously.
According to blockchain.com, over the last 30 days, the virtual asset exhibited another bullish run which improved its valuation by approx 30 percent. The statistics recorded are impressive however, it was observed that the transactions per day on the Bitcoin network remained fairly constant over the same time period.
On 21st April, the transactions recorded per day was around 390,735 and the data charted on 21st May was little lower, with 381,582 transactions occurring on that day. Over the past 30 days, the average transactions per day consolidated between the range of 300,000 to 390,000, which signified that the rate of transaction did not increase with the price surge.
The increased number of transactions often indicates an improved rate of adoption, which is the primary objective of most digital assets. The fact that the number of transactions did not mirror the same growth rate as the valuation of the coin indicated that network activity might not be as prominent as the increased rate might have suggested.
Bitcoin [BTC] dominated the overall crypto market capitalization by more than 56.5%, at press time. The coin was priced at $7849.05. However, prices of Bitcoin failed to witness major changes over the past seven days, as the valuation only fell by 1.89%.
The transaction rates of Bitcoin [BTC] might not show a stark increase, but it still is significant as it was recently reported that holding Bitcoin was more profitable and beneficial than holding some fiat currencies like Peso.
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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again
Read more at https://bit.ly/2ZMkS10
Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
Read more at https://bit.ly/2RD2BjL
Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
Read more at https://bit.ly/2X8aA9W
Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
Read more at https://bit.ly/31MkqSa
Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
Read more at https://bit.ly/2X75DTr
Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
Read more at https://bit.ly/2X5qPJw
BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million
Read more at https://bit.ly/31UvjBz
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