Daily Bitcoin Transactions Have Increased by 57% Since the Beginning of 2019

By Andy Hao

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Recently, the number of transactions on the Bitcoin blockchain has grown exponentially. In fact, Bitcoin transactions have risen throughout the year, and are closer than you might think to matching their all-time high.

Yesterday, there were around 368,768 on-chain Bitcoin transactions, according to BitInfoCharts. In comparison, the chart shows that the highest number of Bitcoin transactions that ever occurred was on December 14, 2017. At that time, there was a total of approximately 490,459~ transactions in a single day.

Further, since the beginning of this year, the number of daily Bitcoin transactions purportedly increased by as much as 57%. Around 234,576 transactions occurred on January 1, 2019.

For context, it is likely no coincidence that the highest number of Bitcoin transactions in a 24-hour period occured back in 2017. At that time, the currency’s value was in the midst of skyrocketing. Bitcoin is nowhere near the same price it was back then, but this new metric could be a positive sign of activity on the network.

One of several possible explanations for Bitcoin’s recent surge in daily transactions is the existence of VeriBlock. This tool attempts to improve the security of other digital assets by leveraging Bitcoin’s blockchain. As some industry figures observed earlier this year, a significant portion of Bitcoin transactions can be traced back to VeriBlock.

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