Global demand for Bitcoin continues to grow after halving

According to Cointelegraph Markets and Arcane Research data, although investors worry that halving block rewards will reduce miners ’enthusiasm and may endanger network security, global Demand continues to rise. The number of Bitcoin ATMs has risen to 8,000, an increase of more than 90% since 2019, which proves that the adoption rate of Bitcoin is constantly increasing. Operator Coinstar said the use of Bitcoin ATM has increased by 40% since February. Compared with altcoins, Bitcoin’s market value and US dollar trading volume continue to lead, with daily trading volume exceeding 10 billion U.S. dollars, exceeding ETH and LTC (both daily trading volume is less than 500 million U.S. dollars). After halving, miners are turning to BCH and BSV networks, but their share of SHA-256 total computing power has decreased significantly: BCH network share has dropped from 3.4% to 2.07%, a decrease of nearly 40%; BSV network share has dropped from 2.39% 1.55%, down more than 35%. The open interest of CME bitcoin options in May increased 10 times from the average value of the year. The significant growth of the P2P loan market and the rising proportion of women working in the crypto industry increasingly indicate that the Bitcoin network and ecosystem continue to make positive progress.

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