Bitcoin Surpasses One Million Daily Active Addresses

Bitcoin (BTC) surpassed one million daily active addresses on June 14, according to blockchain statistics website CoinMetrics.

Twitter user Kevin Rooke pointed out the current number of daily active on-chain addresses on June 15, resulting in mixed reactions from the community. For instance, one Twitter user noted that “using it and trading it are different things.”

A different user attributed the current number of on-chain transactions to mixers, but failed to notice that even if an increase in mixer use were the reason for the rising active address count, it would still mean that more people are using bitcoin. Some replies claim that bitcoin is only preparing a fertile ground for Facebook’s upcoming rumored Libra cryptocurrency and blockchain. One user said:

“We just getting the seat warm for Libra.”

Another user cited concerns that bitcoin’s adoption is actually decreasing, as Cointelegraph reported in August last year:

“Yea, it's getting used so much that merchant adoption is...decreasing.”

As Cointelegraph reported earlier today, JPMorgan Chase thinks the Bitcoin industry has changed considerably since 2017, citing an increase in institutional interest and the high volume of bitcoin futures transactions.

Last week, the official Twitter account of Coinbase Custody, a cryptocurrency custody firm aimed at institutions, revealed that it holds $1.3 billion in assets under custody and expects to hit $2 billion AUC soon.