Bitcoin

Bitcoin Accrues Over $6 Billion Daily Transactions, Targets Mastercard’s Record

Bitcoin Outpaces any Fiat Currency Payment System – Lawyer Turned Crypto Pundit Explains
  • Bitcoin’s increase in daily on-chain transactions indicates the plunging in of capital investors
  • Bitcoin (BTC) is expected to surpass January 2018 record of 800k/day of active addresses before the end of May 2019

Bitcoin (BTC) continues to manifest its capacity on global economic stage. A host of capital investors keep plunging in everyday, causing its daily transaction volume to increase significantly.

There have been doubts from Bitcoin’s pessimists over the future of the digital asset. Some are convinced that BTC cannot stand the test of time as a trustworthy commodity like Gold.

However, Bitcoin (BTC) has been proving all prophets of dooms wrong in the world’s stage with its notable market price appreciation since the beginning of May, 2019.

Bitcoin as the largest digital asset has persistently impacted the price growth of other cryptocurrencies due to its market dominance. At press time, BTC is trading at $8,022.57 with about 0.03% increase in the last 24 hours.

Substantial Increase of Bitcoin (BTC) Daily On-Chain Transactions

Bitcoin (BTC) has significantly improved in terms of on-chain daily transactions, competing with top America’s payment networks.

Kevin Rooke‏, a cryptocurrency analyst and investor got the crypto sphere notified about the increase in the daily transaction of Bitcoin via his twitter handle. According to Rooke, BTC is presently settling above $6 billion per day.

Rooke, through his tweet compared the volume of daily transactions of America’s major payment networks. His comparison indicates that Bitcoin (BTC) is actually improving and edging to the top.

On his uploaded list containing four different payment networks, including Bitcoin, Visa took the largest share with $30.3 billion daily transactions, followed by Mastercard with $16.2 billion, then Bitcoin in the 3rd position with $6.3 billion transactions. American Express and Square filed in 4th and 5th position with $3.2 billion and $0.2 billion respectively.

Bitcoin is expected to keep improving on daily basis. Its expansion rate is noteworthy. Business empires of the world keep plunging in to invest. Closing the gap to beat Mastercard’s daily transaction volume is not an impossible mission.

Bitcoin (BTC) On Course to Break 800k/day Of Active Addresses Record of 2018

Bitcoin is indeed getting back on track since the price collapse of 2018. BTC’s active addresses have been increasing steadily, indicating that the price upsurge it last experienced in 2017 could happen anytime from now.

In another tweet, Kevin Rooke uploaded a chart that revealed the Bitcoin daily active addresses since 18th May 2018 to 19th May 2019.

According to the chart, Bitcoin (BTC) is close to breaking 800k/day of active addresses last recorded in January 2018. The feat is quite achievable as long as Bitcoin keeps its daily growth momentum.

Bitcoin (BTC) is on a mission to overthrow the national currencies. This mission has been sensed by some great countries with globally glorified fiat currencies. Countries like United States, China, India and others feel threatened with the determined growth of the digital currency.

These countries are pushing for the ban of Bitcoin (BTC). However, crypto experts see the threat as a blessing in disguise, believing that this will aid the global exposure and growth of Bitcoin (BTC).

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

Don’t miss any of our crypto news, Join our Telegram | Facebook | Twitter.

About the author

Solomon Odunayo

Solomon Odunayo had dispensed his writing ability on growing Eagles News Media, covering News for relatively 2 years as a founder and editor.

He now works with NewsLogical.com as a full time cryptocurrency Journalist and Chief Editor due to the experience he garnered over time in the crypto sphere.

Email: solomon.odunayo@newslogical.com, editor@newslogical.com.

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *