Ever since the beginning of the year 2020, the cryptocurrency industry has been gaining a lot of growth and reputation. It has been gaining a lot of adoption and increments with respect to its prices and demand. With the passage of time, the cryptocurrency industry has gained enormous adoption and success.
There was a time when the cryptocurrency industry was recognized with the mentioning of Bitcoin (BTC). With the passage of time, the altcoins have also started gaining mainstream adoption and success. Since December, the majority of the altcoins have reported an increase with respect to their prices and transaction volumes.
One of the most prominent and widely adopted altcoins is Bitcoin (BTC) that has been gaining a lot of adoption, investments, and transaction volumes. Just recently, the community representing the Bitcoin Cash (BCH) asset has admitted that they observing a huge amount of transactions flowing through the platforms.
The BCH community has revealed that they have been experiencing a constant rise in the transaction volume for Bitcoin Cash (BTC). The rise in the volume of BCH transactions has been observed since the beginning of December 2020.
The BCH community has clarified that it is not just one or a few that they have observed the transactions flowing higher than usual. The transaction flow on the BCH network has been significantly high every day since the beginning of December 2020.
According to stats and figures, the users on the BCH network have processed more than 300,000 transactions on various days. It is being speculated that given the bullish nature of the entire cryptocurrency market, the daily transaction volume of BCH is only going to go upwards.
Even the on-chain analyzing firms have reported the same and have confirmed the details around BCH’s per day transaction volume. They have revealed that on many days, the BCH transaction volume has experienced all-time highs, so much so that it managed to compete with BTC’s transaction volume.
At the time of publishing, the transaction volume processed through the BCH chain is 282,010 in the last 24 hours. On the other hand, BTC transactions are sitting at 334,793 in the last 24 hours. This goes to show that BTC is experiencing 3.87 transactions per second while BCH is handling 3.26 transactions per second.
One of the on-chain analyzing firms known as messari.io has also shared some very promising information around BCH. The firm has revealed that messari.io is currently ranked as the fourth most active blockchain on the crypto-network. With respect to its activity on the blockchain network, it is currently behind Dogecoin (DOGE) which has also gained a lot of adoption and transaction volume from the beginning of the month.