Santiment has noticed a considerable uptick in Bitcoin’s activity on its network, showing an impressive number of 960,000 addresses daily sending and receiving cryptocurrency, its highest since May 3.
Additionally, analysts have stressed that the June number of daily active addresses could possibly even exceed 1 million, which is a reflective bounce from the huge drop in May.
Consequently, the price of Bitcoin exceeded $28,000 the day prior, with CoinGecko service recording its capitalization rising to $537.457 billion last Monday.
Nevertheless, the cryptocurrency sunk to $27,701 later in the evening.
Throughout the volatility, small investors buying digital currency is emboldened, with Glassnode indicating that 24,600 Bitcoins had been bought in the last month alone.
Medium and large cryptocurrency holders are engaging in accumulation at the same time.