Even such an event as the fall in the coin’s exchange rate did not affect the market development. According to the Blackshain service, the number of transfers in the network is equal to the record value over the past year. About a week ago, the digital currency was able to process about 3.5 transactions per second. A year ago, this figure was only 2.9.
Bears are not a hindrance
The current trend may turn out to be the longest in the history of Bitcoin, but even bears have not been able to become an obstacle to the spread of “digital gold” around the world. Judging by the schematic graphs on the website Bitcoin.com, it is possible to collect quite interesting statistics. The number of transfers in the main cryptocurrency network fell rapidly in early 2018. As of today, about 3.45 transactions are made on the network every second. Over the past week, this number has slightly decreased, but it is still higher than a year ago.
What affects the number of transfers?
Bitcoin’s TPS has been growing unevenly, as the cryptocurrency has developed in a wave-like manner. The sharp jumps in the graph were significantly influenced by the main events that took place around the coin itself, if we consider the fundamental analysis. For example, the growth of TPS in the 3rd and 4th quarters of last year can be clearly attributed to the user’s confidence in the rapid development of a bearish trend. At the same time, the sharp decline in the value of the coin in mid-November also had a negative impact on the number of transfers on the Bitcoin network. All of the above information and statistics show that Bitcoin is still being used with the same intensity, and even the decline in its value has not hurt the demand for this digital currency. Perhaps today we can see the first signs of a future bull run. In order not to miss this event, you should definitely subscribe to our cryptocurrency chat.
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