February 1, 2023

Study: the number of transactions in the Bitcoin network has been decreasing since June of this year

According to Glassnode, the number of transactions in the Bitcoin network has been steadily declining since June of this year. At This decrease in activity correlates with price fluctuations of the first cryptocurrency.

Glassnode analysts stressed the mostTransactions occurred at the time of the growth of the Bitcoin exchange rate. In 2019, the price of the first cryptocurrency reached the peak in June, and since then, the bitcoin exchange rate, as well as the number of transactions in the blockchain, has continued to decline. During this period, a surge in activity was only in October, when the price of the first cryptocurrency shortly reached $ 10,000.

On Monday, December 16, 2019, on the blockchainBitcoin made 263,000 transactions, although during the last quarter, an average of 300,000 to 400,000 transactions were performed daily. Against this background, the rate of the first cryptocurrency has decreased by 4% and now amounts to about $ 6,900. However, despite the decrease in the number of transactions, the total volume of transfers in BTC per day remained at the same level - about $ 1 billion.

It was previously reported that in September on the Bitcoin networkthe number of SegWit transactions suddenly increased - if previously only 40% of transactions used the update on average, now this indicator has increased to 55%.