Bitcoin Starts To Show Momentum After Long Lull

After dipping below $30,000 as recently as July 20, bitcoin is starting to show some recent momentum on the road back to $50,000.

The world’s most popular cryptocurrency sat at $46,100 just after noon on Monday (Aug. 9), according to the CoinDesk tracker, although that’s still a far cry from the coin’s high-water mark above $60,000 in April.

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The total number of bitcoin addresses is up 30 percent as the coin has seen a network activity boost over the past week, FinanceMagnates.com reported.

Crypto analytics program Glassnode found that the active bitcoin entities per day had risen from 250,000 to around 325,000 in the last week, according to the report. The latest jump in activity was mostly driven by the large spike in the price of bitcoin, the report said.

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Once considered an alternate form of currency, bitcoin and other cryptocurrencies have recently become more mainstream, with more retailers and restaurants accepting it as a form of payment. For instance, digital asset marketplace Bakkt has partnered with sandwich chain Quiznos to roll out a physical location, allowing Quiznos customers in Denver to pay with cryptocurrency.

Bakkt, which allows users to convert loyalty currencies into cash, also worked recently with Wyndham Hotels & Resorts to let users redeem points on the Bakkt app.

Read more: Circle K To Add Bitcoin ATMs To Stores

Meanwhile, there will soon be new bitcoin ATMs available in New York City at Circle K locations, a report from The New York Post says. Users will be able to put traditional cash into a bitcoin ATM and quickly buy the cryptocurrency. They can use cell phones as digital wallets to house the funds purchased from automated tellers.

Also, Coinbase research shows that 51 percent of British adults are interested in taking out a loan using their digital asset holdings, per a report from CryptoPotato.com. Almost 40 percent said they’d be willing to use crypto to send or receive money through international transactions.