After weeks of uninspired price promotions, Bitcoin (BTC) has now reached new heights in a variety of metrics: new addresses, active addresses, number of transactions per hour and departures per hour.
Glassnode Technical Director, Rafael Schultze-Kraft, listed Success in a tweet::
All chain activity #Bitcoin today:
New hourly addresses: highest in 2 years
Active hour addresses: Highest in 1 year
Hourly transactions: Highest in the past 10 months
Hourly output with a lifespan of 24 hours: the highest ever
– Rafael Schultze-Kraft (@ n3ocortex) July 2, 2020
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Bitcoin has not shown this number of new or active addresses since the increase in 2017. Since shortly after the fall of early 2018, The number of new daily addresses has risen steadily from 195,000 to 450,000 today. Daily active addresses grew almost three times, from 423,000 to 1.08 million in the same period.
The combination of new address growth, active address growth, and hourly transactions count is good newsand it comes just a few hours after the cryptanalyst Mati Greenspan from Quantum Economics will tweet::
“Man … even the difficulty levels are getting boring. Bitcoin volume and social engagement have been declining for weeks.”
On July 1, the level of difficulty of Bitcoin mining remained largely unchangedwith a downward correction of just 0.0033%. Daily Bitcoin volume dropped from $ 52 billion in mid-May to $ 15 billion (at the time of printing).
Regarding social participation in 2020 through the Lunarcrush cryptocurrency analysis platform, The general trend has been slightly positive since the beginning of the year. This week there was a slight increase in Bitcoin news on all social platforms to 927,000 messages. Despite the relatively flat social engagement at all times, the Bitcoin price recorded huge increases in January and April.
The relationship between Bitcoin’s social engagement and price. Source: Lunarcrush