Cryptocurrency News

Bitcoin’s Daily Transaction Rate Drops to Two-Year Low as Crypto Interest – Bitcoin News


Onchain data indicates that bitcoin transactions per day have not decreased since October 2018. Furthermore, bitcoin transaction fees are down 93% since touching a high of $62 per transaction in April 2021.

Bitcoin Daily Transaction Rate Drops 35%, Google Trends Data Shows Interest Has Fallen Since May

While bitcoin (B T c) prices have fallen to a lower range, after touching a high of over $64K per coin, with the number of daily transactions also falling drastically.

In fact, daily B T c Transactions have been decreasing since the first week of 2021, as figures show a high of 387K transactions on 6 January. data from bitinfocharts.com indicates that the number of confirmed bitcoin transactions on June 3rd was around 249K. Between the first week of January so far, daily transactions have dropped by over 35%.

Data from Bitinfocharts.com shows that the daily trading rate is the same as it was in October 2018.

fork.lol statistics show on June 7 B T c The network processed around 221,624 transactions on Monday. From February 14th to April 28th, 2021, Bitcoin Cash (BCH) Network surpassed B T c The chain’s daily transaction rate during that time period.

Today’s BCH The number of daily transactions in the chain. is less than B T c, as the current daily figures for 7 June show, BCH Has processed around 68,973 transactions. B T c Transactions per day have not been so low since October 2018, as daily transactions have been consistently high since then.

B T cThe highest daily transaction rate has only tapped 478K confirmed transactions, while BCH It broke over two million confirmed transactions per day during the first week of September 2018. Without this B T c Transactions per day have fallen to 2018 levels, with bitcoin fees also declining during the past few weeks.

Average as on April 21, 2021 B T c Transaction fee reached a high of $62.79 per transaction as of 62 ycharts.com. The same data set from ycharts shows that fees today are as low as $4.38 per transaction.

Worldwide Google Trends data for the search query “bitcoin”.

Lack of interest in bitcoin and cryptocurrencies in general could have contributed to the drop in daily trading levels to 2018 levels. The search query “bitcoin” touched an all-time high in May with a score of 100 on Google Trends, but worldwide search trend Arrived at 52 on June 5th.

Daily transactions for a large number of top digital assets including B T c, ETH, doge, XRP, LTC, and BCH There has been a huge decline in all. while XRP Transactions dominated Ethereum’s daily confirmation rate during the first few months of 2021, ETH chain is now XRP In case of confirmation of daily transactions.

what do you think B T c Transactions falling to 2018 levels? Let us know what you think about this topic in the comment section below.

Tags in this story

2018 levels, BCH, Bitcoin, bitcoin (btc), bitcoin cash, bitcoin transaction, B T c, Confirmed Transactions, data, ETH, fees, Google Trends, LTC, onchain data, statistics, transaction fee, transactions, transactions per day, XRP, yucharts

image credit: Shutterstock, Pixabay, WikiCommons, Google Trends, bitinfocharts.com,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any materials, goods or services mentioned in this article.





Source link

findmostly
Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.
https://findmostly.com