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Bitcoin {BTC} breaks through initial support level; Lightning Network grows rapidly as BCH lands in trouble

Bitcoin

According to data obtained from messario.io, one can see that Bitcoin’s network capacity has improved by 738% within a year. The total number of nodes has also shot up by almost 200%. In comparison to this, the transaction count for Bitcoin Cash dipped by 93%. Active addresses have also fallen in number with the passage of time.

While both assets have witnessed a growing level of interest [merchants, as well as retail investors,],  have begun to choose BTC and BCH], Bitcoin Cash needs to head beyond $300 and showcase its value for all to see. Meanwhile, Roger Ver’s website has started selling Litecoin and XRP.

Lightning Network channels have also shot up in 2019. Meanwhile, the Ethereum hardfork which was scheduled to occur this month has been delayed. Vitalik had spoken about scalability concerns, as the main chain is “almost full”.

Binance US will be unleashed by next month, and they are planning to focus on KYC regulations. For quite a while, BTC failed to soar through the $11,000 mark. Max Keiser and various crypto-enthusiasts proclaimed that BTC is well on its track to $20k, though such a massive bullish climb needs a monumental factor. Energy consumption [involving mining farms] has decreased for this year, even as the hash-rate nearly doubled [compared to what the value was in 2018].

Bitcoin is ranked at #1, with its dominance rate at 70.9% for now. The trading volume recorded is $18.794 billion, whereas the supply has 17,920,675 BTC coins in play. As of this moment, the total market cap of the king coin is $186.457 billion. The price shrunk at a rate of 3.21% in the course of the past 24-hours, which brought BTC down to $10,407.6.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.