The Real Reason Behind the Current Surge of Bitcoin Payments
Bitcoin payments have been on the rise lately, and it's been on an all-time record. Followers of Bitcoin have been saying that a company named Veriblock is behind it all. CCN reported that Veriblock is reported to have been very busy, creating around 20% of all transactions on the Bitcoin blockchain.
Veriblock, according to industry analysts like Blockchain.info, has transactions fueling its all-time high value. The highest transactions in a single day were recorded back in December 2017 for the company. During that day, it is said that Veribllock's transactions have surged all the way up to 420,000 and only for that single December day.
The cryptocurrency site had gone live only a few days ago. Analysts mentioned that it is currently dealing with almost 19% of all Bitcoin transactions. Veriblock was already controversial even when it was in the development stage, where industry followers kept a close eye on it. With the number of transactions these days and a growing reliance on cryptocurrency, the trend suggests that BTC transactions on the platform could surge all the way up to 80%.
The world of BTC is beginning to fill up with overachievers. One such case is Ravencoin, which is currently going through a record 'altcoin season.' According to Crypto Vest, the platform is currently setting records in both dollar and BTC currencies and prices. The platform hopes to push for an ecosystem of tickers and security tokens.
Analysts have also watched how events like a potential merger between Finance and Overstock's Medici Ventures have affected the surge. The merger is also reported to have a significant benefit on Medicir's platform for digital assets. Ravencoin is partnering up with Medici Ventures, and this may have an effect on Ravencoin's sphere of influence as well.
Those are only a few of the reasons behind Ravencoin's rally, but it is still unclear how large or significant that really is. RVN trading is on par with BTC, where BTC's 'stagnant' value leads traders away from it, seeking more profitable coins. BNC could be traced to having some kind of influence on the rise of RVN, but even that is not large enough.
Will users become more susceptible to fueling the dazzling run by BTC? This remains to be seen, as the actual usage will have to be reviewed. It's been historically proven that only confirmed reports will sway the market. Still, BTC could eventually make a real run, as it did back when it became a mainstream hit, and that could be all people need.