Bluesky, the decentralized social network, has announced a major milestone, surpassing 16 million users after a record-breaking 1 million sign-ups in just 24 hours. This surge in popularity comes on the heels of Instagram's Threads reaching 15 million sign-ups in November, highlighting a significant shift in the social media landscape.

The platform's growth can be attributed to various factors, including the recent U.S. presidential election results, moderation issues on other platforms, and the ban of X in Brazil. Bluesky's CEO, Jay Graber, has also boasted about the platform's high engagement rates, with over 30% of users actively posting content.

Despite still being smaller than giants like Threads, with 275 million active users, and X, Bluesky's rapid growth is a testament to its appeal as a decentralized alternative. The platform has also secured $15 million in Series A funding, which will be used to launch subscriptions and further develop its product offerings. As users increasingly seek out alternative social media platforms, Bluesky is poised to become a major player in the industry.