An interesting milestone has been overcome today by Bitcoin, one we haven’t seen since November 27, 2017. With now over a million daily active addresses, a number which is defined as the number of unique “from” or “to” addresses used per day.
According to Kevin Rooke who noticed the move and Tweeted:
“When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23.
Yesterday 1 BTC was $8,230 and the median tx fee was $1.33.”
Bitcoin was actually being reported to be trading at $9, 300 at one time on some exchanges before suddenly dropping, then as at the of writing, trading at $9, 200 according to CoinMarketCap reports and other reputable exchanges as well.
However, if DAA doesn’t mean much in practice, it’s an important metric judging from the fact that it shows actual, unique transfers separate from the various direct transfers ‘to and from’ bigger exchanges. The interesting development here is the fact that there are over a million unique addresses transacting on the blockchain which is good for bitcoin.
We can however point to Uber’s estimated 14 million rides per day or the estimated 798,877 iPhones a day Apple sold in 2017 to really put this number in a point of view.
Meanwhile, this is not even the main comparison as it is interesting to note that bitcoin is handling the transaction volume of some of the biggest brands in the world.
Notably, the current price surge has been attributed to this number of contributing factors on speculation such as the upcoming Libra Blockchain, a Facebook cryptocurrency announcement and including its big backers, and the entrance of larger players into the market, such as Fidelity and Intercontinental Exchange as well.
Credit: John BiggsJOIN OUR COMMUNITY