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Daily Bitcoin Transaction Volume Increases To Previous 2018 Levels

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Finally something good for our bitcoin news today after we can notice an increase in the daily bitcoin transaction volume to the levels it was previously in January 2018 after Bitcoin reached the $20.000 mark. Experts believe that the increase is due to the evolution of BTC’s ecosystem.

Chief technology officer at security system company Casa Jameson Lopp, analyzed the fundamental performance of Bitcoin saying that the system is improving. Lopp provided statistical measurements and sources of the growth of bitcoin in 2018:

 “A variety of improvements in block propagation have been implemented by Bitcoin Core over the past couple years and as nodes are upgrading, they appear to be having an effect. There’s also a new highly performant miner relay network.”

Back in 2018, the BTC transaction percentage of spending SegWit inputs increased up to 40 percent while the average BTC transaction size reached its peak at 750 bytes in February before it dropped to 450 in Q3 of 2018. This is a clear sign of increased SegWit adoption according to Lopp:

“The number of reachable nodes didn’t fall much in comparison to the exchange rate — my suspicion is that people who run these nodes are highly dedicated to Bitcoin and/or using them for economic purposes, thus they are unlikely to turn off the node due to exchange rate volatility.”

The dominance on the market of BTC returned to more than 50 percent and the reachable nodes number didn’t declined when compared to the exchange rate.  Last November, the crypto evangelist Anthony Pompliano explained that the BTC fundamentals have increased starting from costs per transaction and number of transactions. He explained what the seven fundamentals of bitcoin are emphasizing the number of BTC wallets and the increase in daily confirmed transactions.

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