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BTC onchain transaction values grow
BTC onchain transaction values grow
Blockchain

BTC onchain transaction values grow

By Fabio Lugano - 2 May 2019

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An interesting Diar report shows how BTC onchain transactions have reversed their downward trend, with a significant rebound in April of this year

The data originate from values acquired and processed by TokenAnalyst and also show an interesting increase in BTC volumes traded onchain, in line with the price increases of March and April. Let’s start by analysing this data.

btc onchain transaction

Monthly volumes, as we can see, show a significant increase from March onwards. A positive element for the whole cryptocurrency sector because it demonstrates an adoption that, at the very least, no longer regresses as it did in the darkest moments of the “Crypto Winter”, but rather expands, showing a slight trend towards use.

If we move on to consider the value of dollars traded onchain the effect of price improvement of the main virtual currency is even more noticeable.

btc onchain transaction

In this case, it is clear that the increase in volumes in March and April is mainly due to the increase in prices. Unfortunately, there does not yet seem to be a strong increase in adoption for US dollar payments. If there is an increase in use, this is hidden under the price increase, but the rebound and stabilisation will favour its use in payments.

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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