Bitcoin Transactions Pass 400 Million While Daily Transactions Climb

[AMANPURI OFFICIAL INDONESIA]

Just over ten years ago, Bitcoin (BTC), the world’s first cryptocurrency was unveiled. In this time, BTC has grown from being an obscure platform used by cryptographers and computer engineers, into a full-fledged digital currency accepted by tens of thousands of merchants worldwide.

That being said, getting to this stage was no easy task for the digital currency, having gone through a myriad of ups and downs over the years. Bitcoin has experienced problems ranging from multiple community-splitting hard forks to numerous exchange hacks and thefts tarnishing its image.

Despite this, Bitcoin has managed to maintain steady momentum over the last decade, growing its market capitalization from practically nothing, up to over $300 billion as interest in the cryptocurrency grew to stratospheric levels in 2017.

While the growing market capitalization is surely a sign that Bitcoin is beginning to hit its stride, it doesn’t really demonstrate how adoption has changed in this time. At least for the case of cryptocurrencies, usage and market capitalization are not always closely related.

Instead, one of the better ways to track whether a cryptocurrency is growing in usage is to look at how the number of transactions per day is changing over time. If this figure is increasing, then it can be assumed that the cryptocurrency has either found increased utility among its current users or that the number of users is increasing.

source: https://beincrypto.com/bitcoins-push-to-retake-5000-a-new-trend-or-nothing-special/

What do you think is causing the growth in Bitcoin transaction volume? Is it simply due to increased trading, or are more merchants accepting BTC as payment?