Worldwide BTC recognition grows due to high investor interest

Cointelegraph Markets and Arcane Research have published data from a joint study suggesting that despite theinvestor concerns about halving and network security, the demand for bitcoins continues to grow worldwide.

One important evidence of growing recognitionBitcoin, according to researchers, is an increase in the total number of active bitcoin ATMs, which worldwide exceeded 8,000, and this is 90% more than in 2019. Coinstar, the operator of bitcoin ATMs, also reported a 40% increase in the use of Bitcoin ATM since February 2020.

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Bitcoin is also a leader in daily volume.transactions in dollar terms ($ 10 billion) and market capitalization compared to altcoins. This figure is many times greater than the daily total volume of trade in ether (ETH) and lightcoin (LTC), which is less than $ 500 million.

In May, the price of bitcoin increased by almost 10%, while altcoins such as ether, XRP and Monero (XMR) barely reached breakeven.

Arcane Research experts also found thatafter bitcoin (BTC) halving, miners gradually switch to BCH and BSV networks, although the contribution of both networks to the SHA-256 hash rate is still experiencing a sharp decline as a result of recent halving in these networks themselves.

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So, the share in SHA-256 for BCH decreased from 3.4% to 2.07% (-40% within the network itself); BSV share - from 2.39% to 1.55% (-35% within the network itself).

Retail and institutional investors optimistic about bitcoin

The latest surge in bitcoin occurred with a high trading volume, which signals a good mood among retail and institutional investors.

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In addition to Bitcoin exceeding $ 10,000 on May 14, withthe beginning of the month, the total amount of open positions for bitcoin futures on the CME exchange increased by 1000%. This is a good sign of recovery after the collapse of Bitcoin on March 13, when it dropped to $ 3,750.

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Arcane Research noted a significant increase in p2p lending markets and an increase in the percentage of women working in the crypto industry, which may also indicate Bitcoin's success.

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