A growing number of Bitcoin daily active users- a promising future for crypto?
The Coin Metrics report, however, received some mixed comments from the crypto community. The crypto enthusiasts were pointing on the fact that Bitcoin daily active users mentioned by the research company are “just users and not traders.”
Other crypto community members accredited active addresses’ transactions with bitcoin tumbling or mixing.
Nevertheless, the crypto experts believe, that community members mistakenly assume that if there was an increase in bitcoin mixing, it cannot indicate growth in Bitcoin daily active users.
Facebook Coin could support Bitcoin expansion?
Several Twitter users expressed their excitement about soon to be launched Facebook Global Coin and social media giant’ involvement in bitcoin expansion.
One user believes that “Bitcoin is setting the stage for Libra.” Libra or Libra Coin is the new Facebook’s project which allegedly connected to LibraNetworks.
The aforementioned company was founded by the social media giant in Switzerland and reportedly focus on the blockchain, payments, data analytics, and investing.
According to the latest reports, at least three major payments companies as backers, like Mastercard, VISA, and PayPal agreed to invest into Facebook Coin. And Barclays Bank analyst has recently predicted that Libra Coin would generate up to $19 billion in revenue for the firm by 2021.
The number of Bitcoin daily active users remains high
Last August, different media outlets raised concerns among Bitcoin users regarding shrinking bitcoin adoption rate in merchants. However, JP Morgan Chase’s latest announcement on the matter says that “Bitcoin has come a long way since 2017 and managed to arouse immense interest in its futures transactions.”
In addition, a dedicated crypto asset custody platform for institutions Coinbase Custody revealed last week that the firm is in possession of more than $1.3 billion digital assets under custody and its exponential growth is likely to hit $2 billion marks soon, indicating that the cryptocurrency’s popularity is still growing.