The number of transactions of Bitcoin Cash (BCH) surges remarkably as reported by the BCH community recently. The community reported that the huge number of transactions in BCH could be seen throughout the previous month. Since December last year, more and more transactions have been noticed by crypto enthusiasts. More than 300,000 daily transactions have been reported till now.
Rising Popularity Of Bitcoin Cash Transaction
Crypto experts have already pointed towards the growing interest in blockchain networks and the cryptocurrency economy by investors around the world in recent times. Some of the digital assets including altcoins have witnessed a great surge in their value recently. But the increasing BCH transaction is aiming towards the rising attention from the traders.
It is reported that the BCH transaction grew steadily from the last week of December. The count of transactions has now come very close to Bitcoin’s daily achievement. The on-chain data points at BCH’s rising popularity observed more than 282,010 transactions within the last 24 hours whereas transactions on Bitcoin (BTC) show the data of 334,793 at the same time. While BTC has a transaction rate of 3.87, BCH is at 3.26. Thus the growth in activity through the BCH chain has come to a much closer contest with Bitcoin itself.
According to statistics, Bitcoin Cash has ranked fourth among the most used blockchain recently. The BCH network is currently at $4.34 billion among the total 80,529 active blockchain addresses. In comparison to BTC’s daily 322.22k counts, BCH observed 322.26k daily transactions on 29th January.
The supporters of Bitcoin Cash observed a 4.7 MB block that processed around 14,910 transactions. It reached the block height of 672,532.
The increasing count of transactions is certainly great news for the BCH community which expects more growth and acceptance in near future.