Bitcoin has surpassed 1 million daily active addresses, industry website Coindesk has reported, citing data from CoinMetrics.io. According to the data, the milestone was reached last Friday. Prior to this, the last time Bitcoin had over 1 million daily active addresses was on November 27 2017, during the crypto boom that eventually led to BTC hitting an all-time high of around $20,000 in December.
While daily active addresses may not be a key metric, this is still a positive development for the cryptocurrency, according to some observers. Twitter user Kevin Rooke highlighted the development in a recent tweet.
“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,” Rooke wrote on Saturday.
The Bitcoin price has since broken through the $9,000 barrier thanks to some strong trading over the weekend. The digital coin performed strongly on Saturday, as its price moved within striking distance of the $9,000 level. Having opened the session at $8,689.75, BTC notched up a close of $8,838.38.
The Sunday session was much more nervous, as Bitcoin saw several big price swings during the day. The first one was an upswing that allowed Bitcoin to break above the $9,000 during the opening hours of the session. The coin rose to a 13-month high of $9,335.87 during that initial run, but eventually closed the session at $8,994.49.
Bitcoin has renewed its advance in today’s trading, with its price rising steadily since the start of today’s trading. As of 14:11 BST, the Bitcoin price stood at $9,265.58, up 1.4% since the same time yesterday. The coin’s total market cap currently stands at $164.6 billion, which represents 57.2% of the combined value of all digital coins.
Featured image: Igor Batrakov / Shutterstock.com
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