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Number of Transactions in Bitcoin Network Falls to Lowest in 30 Months


The number of transactions in the main network of bitcoin in quarterly terms fell to a minimum of 2.5 years. This was announced by the founder of the consulting company Post Oak Labs with reference to the analytical report for institutional investors Diar, which will be published next Monday.

Tim Swanson @ofnumbers shared on Twitter: Bitcoin transactions are now at a 2.5 year low… and it is not because of “batching” which many promoters like to blindly cite. from the upcoming @DiarNewsletter special edition

The diagram shows that the number of transactions in the second quarter of 2018 does not even reach the performance of the first quarter of 2016.

At the same time, such dynamics can not be explained by the introduction of the technology of pooling transactions, batching, since the vast majority of transfers in the bitcoin network are carried out without its application.

Recall that almost 5% of the blocks in the bitcoin network are extracted using ASICBoost technology.

Some people finds this not surprising saying if most of the Bitcoin is now aggregated in exchange wallets, with people steadily getting more desperate to liquidate, the number of transactions would obviously decline. They also say that a lot of transactions in the past years were from spamming of the bitcoin cash community and the miners, to increase their fees and transactions costs, which they stopped doing recently resulting the number to go down significantly.

In any cases, as a whole, this is not any good to the declining market at the moment.

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