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Bitcoin (BTC) Registers Yearly Peak of Transactions

The Bitcoin (BTC) network marked a 12-month peak for transaction levels on Friday, carrying more than 366,000 in 24 hours. Blocktivity reported a higher number, but the inclusion of UTXO transfers essentially doubled the number without adding economic value.

Bitcoin transactions had fallen to lows around 280,000 in 24 hours, and the heightened activity was ascribed to multiple potential events, not just direct usage of BTC coins. In the past, most of the activity on the Bitcoin network was discovered to not directly reflect economic value. Despite the currently low transaction fees, actual Bitcoin usage and merchant adoption are still lagging.

One possible explanation for the activity was the Veriblock proje…

This article appeared first on Cryptovest

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