While Bitcoin transactions per day have hit a fresh 2019 high, a “better indicator” measuring transaction outputs reveals that economic activity on the BTC blockchain is currently at a record high.
Another New Bitcoin Daily Transaction High for 2019
It took less tha a month for the Bitcoin blockchain to set another new high for this year with over 404,000 daily confirmed transactions, according to Blockchain.com.
At the end of March, Bitcoinist reported that the number of confirmed Bitcoin transactions per day hit a new 2019 high to nearly 400,000.
This is the highest network activity since BTC price 00 was well above $10,000 USD in early January 2018.
At the same time, transaction fees today are roughly five times lower (in satoshis per byte) than they were at the beginning of 2018, the latest data shows.
Thus, block space optimization via SegWit is proving to be a successful scaling strategy for the meantime despite the network now processing more transactions on average.
‘Transactions’ Do Not Paint The Whole…