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Number of Bitcoin Transactions Hits New ATH Over Past 24 Hours, So Does Total BTC Transaction Size

Analytics provider Glassnode reveals that Bitcoin on-chain fundamentals to do with transactions have reached new major highs within past twenty-four hours

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Glassnode, a popular supplier of blockchain analytics data, has tweeted that three metrics related to Bitcoin transactions have shown substantial rises over the past twenty-four hours and reached new ATHs.

Number of BTC transactions is 25.9% up

The analytics company has reported that the overall amount of transactions conducted with BTC has seen a substantial increase by 25.9 percent to 13,824 from 10,982.500.

BTC
Image via @glassnodealerts

BTC total transaction size spikes almost 50%

Glassnode has also shared a chart which shows a major spike in the size of total BTC transactions in the last 24-hour period. It has surged a whopping 43.5 percent, reaching a new high of 8,025,718.833 after 5,592,011.625.

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BTC
Image via @glassnodealerts

The amount of BTC mean transaction size is also 18.3 percent up.

These three metrics are likely to signify a growing interest from both institutional and retail investors to the flagship cryptocurrency with BTC miners selling their Bitcoin stashes recently and a major hedge fund Grayscale from the Wall Street has been purchasing a substantial amount of BTC mined in 2020 so far.

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Bitcoin returns are +42% in Q2

Another popular analytics agency Skew has published a chart which shows that in Q2 this year, Bitcoin has demonstrated a surge by forty-two percent in quarterly returns.

In Q1 2020, BTC showed -10.58 returns.

Bitcoin quarterly returns also showed gargantuan figures back in Q2 of 2019 (+157.54%) and 2017 (+125.32%), as per the data shared by Skew.

Skew
Image via @skewdotcom

 

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Yuri Molchan

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.