The world’s #1 cryptocurrency may have its ups and downs, but the fact remains: people keep using it. While the price of Bitcoin skyrocketed in the recent couple of days (the price declared by the CoinMarketCap at the time of writing is $5263), the amount of the transactions involving this coin celebrates victories of its own.
According to the data from the analytical site blockchain.com, we can clearly see that the amount of BTC transactions has surpassed the number 400 million. Moreover, according to the estimates, around 400 thousand BTC transactions are conducted every day.
This might totally be the symptom of the recovering crypto market. Most businesses are now trying to use the upward trend and get as much profit from it as possible, because nobody can predict for sure when the price will jump down again and whether it will actually do so or not.
Bitcoin has not only grown in numbers related to price and amount of transactions. Over the last year, the flow of Bitcoin in monetary terms has reached 3.2 trillion dollars. Its market capitalization is also increasing, as well as the daily volume.
Although Bitcoin still remains a controversial topic, and the opinions on it differ, nobody can deny the fact that it interests the members of the financial world and is not going to disappear any time soon.
So far, the only problem, besides the volatility and frequent price jumps, is the low scalability of Bitcoin, which hampers its development and, consequently, the amount of its transaction. The Lightning Network of Bitcoin is currently operating to fix this issue.
Considering all the abovementioned facts and figures, we can see that Bitcoin has potential to become a full-fledged payment method in the future.
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