The Bitcoin daily transaction volume is now at its highest level since January 2018 showing increased on-chain economic activity. Meanwhile, transaction count and average blocksize on the network continue to move in the same upward direction, proof that the 1MB blocksize limit is well and truly a thing of the past in the post-SegWit Bitcoin era.


Bitcoin On-Chain Transactions on the Rise

Data from Blockchain.com shows that daily Bitcoin on-chain transaction volume has risen to 452,646. This figure corresponds to the highest transaction count since January 2018.

Bitcon on-chain transaction reaches new 16-month high

This current network activity is also the second highest in the history of the Bitcoin network. The last time the network processed more than 450,000 on-chain transactions, the BTC price was still north of $10,000.

Despite falling below 300,000 transactions per day for a few weeks in May, Bitcoin’s economic activity has been on the rise since the start of the year. Even during the extended bear run of 2018, the network continued to record above 300,000…

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Source: https://thebitcoinnews.com/fundamentals-bolstering-price-on-chain-bitcoin-volume-hits-16-month-high/