The number of active addresses on Bitcoin surged by 1 million in just one day, an avid Tron community member Misha Lederman has said.
This, according to the Lederman, is a gigantic milestone that was last achieved by the cryptocurrency in June 2019.
— Misha Lederman (@mishalederman) May 9, 2020
The last time Bitcoin recorded such achievement, the value of the cryptocurrency went from around $9,300 to $13,000 within a few days.
This is no doubt a positive news for the cryptocurrency ecosystem. The update would likely ignite excitement in the heart of investors as many await and expect a bullish run from the cryptocurrency owing to the lasting economic crisis and upcoming halving.
According to the illustration posted by Lederman on Twitter, the number of Bitcoin’s active addresses has been on the rise since April. However, a number of observers and analysts in the crypto space have stated that funds from institutional investors are now entering the Bitcoin ecosystem.
However, at the time of writing this report, a unit of Bitcoin is valued $9,706 after witnessing a slight drop of about 2% against the US Dollar. Yesterday, Bitcoin traded above $10,000 before falling below the price.