Bitcoin Blockchain Daily Confirmed Transactions Hit 5-Month High

Hot on the heels of surpassing the 500 million transaction milestone, Bitcoin daily confirmed transactions are soaring to levels not seen since September.

Hot on the heels of surpassing the 500 million transaction milestone, Bitcoin (BTC)’s daily confirmed transactions (txs) are soaring too.

The latest available data on Blockchain.com, for Feb. 6, indicates 315,370 daily txs on the blockchain, and 368,604 on Feb. 5.

These are levels not seen since early Sept. 2019 — though they still stop short of a 2019 peak in May, which saw the network breaking above 450,000 txs daily.

Daily confirmed txs on the Bitcoin blockchain, Feb. 2019-Feb. 2020

Daily confirmed txs on the Bitcoin blockchain, Feb. 2019-Feb. 2020. Source: blockchain.com

Green across the board

Meanwhile, markets are seeing a solid flush of green, with Bitcoin now tantalizingly close to reclaiming the $10,000 price point: 5% growth on the week has brought the cryptocurrency to $9,800 as of press time.

The top coin’s strong stats contrast starkly with its hard-forked descendent, Bitcoin Cash (BCH), which last week saw not a single block confirmed for over five hours due to a mining anomaly — a hitch that was easily cleared due to the network’s relatively low usage.

Beyond the spot markets, Bitcoin futures Open Interest at BitMEX exchange has risen to a new high at $1.5 billion, and fresh data from Skew Markets reveals Bitcoin futures with a May 2020 and June 2020 expiry date rising to $10,000+ on a handful of trading platforms. 

Earlier today, Cointelegraph reported on another major milestone in the industry, as the total value locked in the DeFi markets hit $1 billion.

Read the full article at Cointelegraph.com

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