• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin News / Bitcoin On-chain Metrics Breaks Several ATH On A Historic Day!

Bitcoin On-chain Metrics Breaks Several ATH On A Historic Day!

January 12, 2021 by Chayanika Deka

Bitcoin just saw the biggest drop of the year as the prices went as low as $30,540. Upon looking at the bigger picture, however, large corrections are inevitable in the market. More so as the on-chain fundamentals have never been as bullish as it is now.

The world’s largest crypto-asset’s trading volumes and active addresses have now crossed its previously established all-time highs during the last crypto bull run back in 2017. Meaning, even as the drop created quite an uproar among many investors, the bull run 2020 is far from over.

More Money Inflow, More Liquid

h 1On the 12th of January, Bitcoin’s hash rate soared to 139.8 Exa hash per sec surpassing its previous peak whereas the mining difficulty rose to a fresh high of 18.74 T, as per the latest BitInfoCharts. The rising confidence can also be seen in the increasing trading volume figures that was not seen since the last bull market. With a huge influx of money flowing on the cryptocurrency exchanges, the market was now becoming more and more liquid as well as efficient.

Number of market participants in Bitcoin network could be higher than before

DAA

In addition, the daily active addresses on an average surged to 1.24 million breaching the former ATH of 1.19 million established back during the crypto boom of 2017, according to the chart by IntoTheBlock. Notably, the numbers for daily active addresses have been on a consistent rise and the continued trend essentially suggested a fresh adoption trend and a substantial spike in activity for Bitcoin.

Active addresses: ATH
Active entities: ATH
Difficulty: ATH
Hash Rate: ATH
Number of whales: ATH
Illiquid supply: ATH
Non-zero BTC addresses: ATH

Don't let short-term $BTC price action distract you.

Fundamentals are strong.

The network is healthy.

Zoom out and #HODL.#Bitcoin

— Rafael Schultze-Kraft (@n3ocortex) January 11, 2021

Even in a bull market such as these, corrections were very much part of it and were nothing but healthy. As asserted by Rafael Schultze-Kraft, the CTO of blockchain intelligence platform Glassnode, the Bitcoin network was indeed healthy.

Not just that, today is also a historic day. The 12th of January 2020 marks the 12th anniversary of the first-ever Bitcoin transaction that was sent from one person to another. It was the computer scientist Hal Finney, who for the very first time, received 10 Bitcoins as a test from the network’s mysterious, pseudonymous creator, Satoshi Nakamoto.

Filed Under: Bitcoin News, News Tagged With: Bitcoin Active Addresses, hash rate

Primary Sidebar

Recent Posts

  • Coinbase’s Latest Initiative To Spruce Up Listing Process January 16, 2021
  • Gemini Follows Coinbase’s Trail; Winklevoss Twins Affirm Going Public Is An Option January 15, 2021
  • Chainlink [LINK] Onboards Bulls To Breach Its All-Time High Of $19.85 January 15, 2021
  • Huobi Makes It Easy For Russian Crypto Lovers By Aiding Ruble [RUB] Deposits/Withdrawals January 15, 2021
  • Bitcoin Aims For $40K Yet Again As Stablecoin Inflow Spikes January 15, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.