Vol.26: BTC Transaction Volume Drastically Increased By 28.9% Compared To Last Week

All data in this report was captured and analyzed by Huobi Research; please cite the source “Huobi Blockchain Big Data” for reference.

Abstract

This Week:

1） The number of active Bitcoin addresses has decreased for 4 consecutive weeks. Bitcoin transaction volume drastically increased, while the concentration of wealth drastically decreased. According to observations, most of Bitcoins transferred out were eventually transferred to 96 new addresses, with each address holding 8000 Bitcoins, which raises suspect that these transactions were conducted by the same institution or individual.

2） The number of active Ethereum addresses has decreased for 5 consecutive weeks, while the total transaction volume drastically increased.

3） Number of transactions, number of new addresses, and DApp activity of EOS all decreased to varying degrees.

Social Media Data：

BTC, EOS, Ethereum to be the top trending in China, while BTC, Ethereum, NANO were the top Cryptocurrencies overseas; In the Events category, “Bounce”, “Contract” and “Bear Market” were the hottest words in China, while “Fiat”, “Wallet” and “Decentralized” were the hottest words overseas; in the Exchange and KOL category, “BM”, “Huobi” and “Bitfinex” were the hottest in China, while “Binance”, “Coinbase”, and “Satoshi” were the hottest overseas. Among Github repositories, ETH, BTC and EOS were the top Cryptocurrencies projects that received the most stars in a week; DASH, EOS and IOTA were the projects that received the most watchers in a week; NEO, ADA and ETH were the projects with the most code commit submission this week. 

Market Trading Data：

In the cryptocurrency market this week, the price of major cryptocurrencies all decreased to varying degrees, led by EOS which saw a weekly decrease in price of 33.12%. BNB was the only major cryptocurrency that received an increase in price of 12%.

1.On-Blockchain Data

1.1 Active Bitcoin Addresses

This week, the number of active Bitcoin addresses decreased by 2.6% to 3.44 million, declining in four consecutive weeks.

There were 1.218 million new Bitcoin addresses created this week, increased by 1.7% from last week’s 1.198 million.

1.2 Bitcoin Transactions

The overall transaction volume on Bitcoin network was 10.321 million BTC, drastically increased by 28.9% from last week’s 8.005 million, reaching a new high for the past half a year. There were overall 1.726 million transactions this week, decreased by 4.7% compared to last week. The average trading volume per transaction increased by 35.3% to 5.98 BTC this week.

1.3 Bitcoin Transaction Fee

The overall transaction fee on Bitcoin network decreased from 264 BTC to 241.6 BTC this week. Average transaction fee was 0.00015 BTC, increased by 12.2% from last week.

1.4 Concentration of Wealth on Bitcoin

Concentration of wealth on bitcoin drastically decreased. Top 10 addresses held 5.31% of all Bitcoins, 0.09% less than last week; top 10-100 addresses held 3.09% less Bitcoins than that of last week, showing a drastic decline; top 100-1000 held 2.57% more Bitcoins than that of last week; other addresses held 0.61% more Bitcoins than that of last week, reaching 64.52% of all Bitcoins.