Different metrics show a resurgence in both interest in and actual usage of Bitcoin.ĭata from Coin Dance shows a significant surge in BTC P2P trading via the LocalBitcoins platform. Bitcoin Popularity Staging a Comebackīitcoin’s TPS isn’t the only thing on the rise related to the top-ranked cryptocurrency at the moment. Last month, Bitcoinist also reported that Bitcoin daily on-chain transaction volume has also reached the highest level since the 2017 price peak. The fact that BTC transaction volume without any corresponding hike in fees shows that capacity-boosting upgrades like SegWit are having an effect. In 2017, as the daily transaction volume rose, so did the average fees paid to miners also increase.īy the time of the eye-catching bull rally in late 2017, fees had topped $50 on the average, a massive increase from sub-$1 levels before the surge. However, since then, BTC’s TPS count has been rising steadily.ĭespite the steady increase, transaction fees have remained relatively stable on the lower end of the spectrum. The figure represents the highest BTC transaction rate since its all-time high of 4.7 in mid-December 2017.Īfter the initial price crash of February 2018 that took BTC price to $6,000 the transaction rate also fell. With transaction per second on the rise, the top-ranked cryptocurrency is also experiencing a resurgence in both actual use, especially in emerging markets, and interest as seen in the latest Google search trends.ĭata from Blockchain shows that Bitcoin’s transaction rate is currently at 3.8 transactions per second (TPS).
Bitcoin transaction rate is currently at its highest level since December 2017 despite the 14-month long bear market.
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