Bitcoin Sees Record Number of Active Users as Price Almost Hits $20K
As bitcoin set a new price high closer to $20,000 on Tuesday, the network also saw record-breaking user activity.
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The number of Indian users on cryptocurrency exchange Binance has soared after the Indian government began levying taxes on crypto transactions. Meanwhile, daily trading volumes at some major India-based cryptocurrency exchanges are down over 90% since the new tax rules took effect.
Binance Sees Record Number of Indian Users
The number of Indian user sign-ups soared on global crypto exchange Binance after a 1% tax deducted at source (TDS) went into effect in July, Bloomberg reported Tuesday.
The number of Binance app downloads in India jumped to 429,000 in August, the....
Cardano has recorded a significant uptick in active addresses in recent days. This comes despite the negative news that has surrounded the digital asset following news of mid-sized crypto exchange eToro demising the altcoin for U.S. users. This has sent the price of the asset barreling downwards towards points that had not been touched in the past three months. The downtrend in the cryptocurrency had opened up an opportunity for investors to snatch up ADA at discounted prices before the expected bounce back. In addition to expected releases of decentralized applications (DApps) on the....
Ethereum also drew its bullish cues also from the anticipation of higher demand as its active supply runs dry.
On Tuesday, the noncustodial digital currency wallet Metamask announced that the platform has surpassed 10 million monthly active users (MAUs). Year-to-date, Metamask has seen 19x growth since July 2020 as MAUs climbed 1,800% in 12 months.
Metamask Hits Over 10 Million Monthly Active Users
There’s no doubt that Metamask has been a popular Ethereum blockchain wallet that is also compatible with technologies like Polygon, Optimism, and Arbitrum. The wallet was created by the blockchain software company Consensys in 2016 and a great number of decentralized finance (defi)....
First spotted by Jacob Canfield, an independent market analyst, the fractal highlights Bitcoin's tendency to fall towards its 21-week exponential moving average or yearly support after reaching its all-time high.