Bitcoin Surpasses 1 Million Active Addresses And Its Hash Rate Reaches A New All-Time High

  • Bitcoin’s hash rate reaches a new all-time high with 62 million TH/s
  • There are 1 million active addresses on the Bitcoin network

Bitcoin continues to expand and grow in the market. This time, the most popular cryptocurrency is reaching new records in different aspects of its network.

The Twitter user Vortex shared a chart provided by CoinMetrics in which it is possible to see that Bitcoin surpassed 1 million daily active addresses. At the same time, Bitcoin’s hash rate is reaching new all-time highs.

Bitcoin’s Fundamentals Continue to Expanding

Bitcoin continues to expand in the virtual currency market. This time, the digital currency is registering an increase in the number of active addresses.

On June 14, Bitcoin’s network registered 1 million active addresses. This is very important because it shows that Bitcoin is being used more and more.

Although there are several users that can have two addresses this shows that the Bitcoin network is experiencing genuine growth. According to CoinMetrics, Bitcoin registered more than 1 million active addresses during the bull market experienced in 2017.

At the same time, the Twitter user Kevin Rooke said that when Bitcoin broke 1 million active addresses for the first time on November 27, 2017, each Bitcoin was traded around $9,352 and the transaction fee for the network was $3.23. Now, Bitcoin was traded close to $8300 and the median transaction fee was $1.33.

Moreover, Bitcoin hash rate is also reaching new all-time highs. As the crypto expert and analyst Alex Krüger wrote on Twitter, estimates that Bitcoin’s hash rate has just surpassed an all-time high of 62 million TH/s, surpassing the previous all-time high in September 2018 of 60 million TH/s.

This shows that the network is becoming more secure over time, making it more difficult for a malicious entity or group of computers to attack the Bitcoin network.

Furthermore, the price of the most popular digital is close to reaching the highest point this year, and the largest in more than 8 months. This is very bullish for the digital asset and the future of the whole crypto market. It is worth mentioning that there are several altcoins that lost part of their price in the last few days.

The cryptocurrency exchange Binance announced that is working with a company in the United States to offer services to American citizens. However, some of the altcoins that are currently supported on the platform will not be available on the new platform for US citizens.

Bittrex has also decided to delist some coins from its platform for US citizens due to regulations in the country. Because of these announcements, and others that could be made in the near future, some altcoins are being sold for Bitcoin, which generates an even larger buying pressure on this virtual currency.

At the time of writing, CoinMarketCap shows that Bitcoin is being traded around $8820 and it has a market capitalization of $156 billion.

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