Bitcoin Network Growth Metrics and the Next Mega Price Rally
Metcalfe-Network-Effect. Network growth has been steadily growing larger and stronger over the last two years. While many people only look at the value of bitcoin, they are failing to see the adoption rate. The bitcoin price may have dipped slightly recently, and the record all-time high price of $1,124 USD of late November 2013 may now seem like a long way off. The bitcoin network itself is continuing to grow larger than ever. While according to Metcalf's Law, which states the value of a telecommunications network is proportional to the square of its users. There comes a point in this....
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Although Bitcoin prices made a strong 15% recovery over the past week, metrics suggest more network demand would be needed to sustain further price increases. With several on-chain metrics for Bitcoin (BTC) still in a bearish range, a continuation of the recent price recovery will require increased demand and fees spent over the network, says Glassnode. The assessment of mediocre market growth over the past week came from blockchain analysis firm Glassnode in its latest The Week On Chain report on August 1.In it, analysts pointed to sideways growth in transactional demand, active Bitcoin....
The number of users on the Bitcoin network keeps growing higher, drawing comparisons to tech giant Apple’s growth to date. Bitcoin (BTC) continued its decline further into the week as BTC clung to the $40,000 support level on Feb. 18. BTC price up-down debate “mostly noise” While many analysts anticipated BTC’s price to fall toward $30,000 next, mostly based on technicals, Jurrien Timmer of Fidelity Investments lambasted the downside bias, calling it “mostly noise.”Bitcoin has been in a choppy trading range for almost a year now, bouncing between 30k and 65k. The up-or-down debate....
The Stellar Development Foundation (SDF) has published the end-of-year metrics for their ecosystem and the underlying network. Presented by Denelle Dixon, Executive Director, and CEO at the SDF, the metrics showed a significant increase across the board. Related Reading | How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank In 2021, per the report by the SDF, the Stellar Network experienced a 32% rise in its number of total accounts with respect to 2020. The number of total accounts stands at 6 million. On the other hand, the Stellar Network has processed over 1.8 billion....
Dogecoin (DOGE) is at risk of a significant price decline due to its network activity, which has remained flat for a while now. Despite a bullish spike in some other metrics, this on-chain metric remains vital for the foremost meme coin’s growth. Dogecoin Network Activity On The Low Data from the market intelligence platform IntoTheBlock […]