Bitcoin Blockchain Hits All-Time High Daily Transactions as BRC-20 Tokens Drive Surge

The bitcoin blockchain is experiencing a surge in daily transactions reaching an all-time high of 682,000 this month, according to data from Glassnode . This milestone marks a significant increase of almost 40% compared to the previous peak in 2017 . Furthermore, bitcoin’s dominance in the overall cryptocurrency market has grown from 38% at the beginning of the year to 44% .

Bitcoin’s Dominance and Daily Transactions Reach New Heights

The rising number of daily transactions on the bitcoin blockchain is attributed to the emergence of BRC-20 tokens which are the first class of crypto tokens built on the bitcoin blockchain apart from bitcoin itself . These experimental coins have already generated nearly 25,000 transactions this year driving the overall transaction volume to new heights . Data from Blockchain .com reveals that the average daily transactions over seven days currently stand at over 531,000 which is nearly double the volume from a month ago .

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