On January 18, a crypto enthusiast on Twitter brought to the attention of the community that Bitcoin’s off-chain trading volume for the past 10 months has risen by 63 percent. As such, this spike in volume is comparable to that of 2017 when the bullish run occurred. It also shows investors interest in the digital assets.
Crypto Enthusiast’s Tweet Gets User’s Attention
Based on AminVanBitcoin’s tweet and Bitcoin daily trading volume chart, the transaction per day in 2019 has risen from 200,000 to about 300,000. The poster also included a chart to 2017’s daily trade in order for comparisons to be made. In the case of the latter, the trading volume moved from 100,000 to 300,000 before it fell sharply at around 350,000 and later spiked significantly over 450,000.
Therefore, the performance within the past 10 months clearly shows investors’ interest in the digital asset despite its unimpressive performance in the previous year. Moreover, a closer look at its trading volume over the past 24 hours shows that it is around 320,000 against 167,000 daily trades as at 18th July 2018; which is six months ago.
Social Media Enthusiasts Make Comments on Twitter
Asides getting the attention of cryptocurrency websites, AminVanBitcoin’s tweet has garnered the interest of other enthusiasts in the community. Several people have made positive comments such as: “Daily transactions are more important than the price, bitcoin is growing in all the right ways.”, “If you’re not using lightning in the next bill run you’re doing it wrong”, and “And fees are low.. because Segwit did as expected.”
Another user also pointed out that:
You’ve been privileged to live in a government that hasn’t raped all your rights just yet.
#Bitcoin is censorship resistent money. It is a life saving necessity for anyone living in a nation with an oppressive government.
Longhash’s Report Reveals Investors Interest in Trading Bitcoin
BTCNN on December 19 also informed of Longhash’s report which states that the 2018 trading volume in Latin American countries has increased significantly. This was specifically said about countries like Peru and Columbia who had recorded a 20x and 10x increase respectively.
On January 17th, BTCNN also reported of Longhash’s data culled from LocalBitcoins which reveals that Venezuela and Nigeria are now among the top countries in the world that are trading this digital asset. Other nations that have been making waves are the U.S, U.K, and China. While the 2018 Bitcoin trading volume in each of these countries fell, Venezuela, Peru, Iran, and Tanzania saw a significant increase.