Bitcoin’s price action led to the lowest number of transactions confirmed by day since March 2016, according to Blockchain.info. ]
Data show that BTC transactions are in line with the downward price trends since the record highs of December 2017.
The number of transactions reached a two-year low on February 26 transactions, while Sunday March 4 saw only 195 500.
<img alt=” Daily confirmed transactions “src =” https://cointelegraph.com/storage/uploads/view /d5a68c2e81bc996f53bcf6d0d8973227.jpeg “title =” Confirmed Transactions Per Day “/>
The collapse occurs at a time when Bitcoin is struggling to regain the high USD value reached by the end of the year. last year, when he reached $ 20,000 on some major exchanges.
Despite the release of help for the separate witness (SegWit) tec hnology by Bitcoin Core and Coinbase Exchange and Bitfinex in February , faster and cheaper Bitcoin transactions seem to be tighten investors less than the overall trading potential.
SegWit slowly dominates the BTC trading market, constituting nearly 30% of transactions according to data from SegWit Party monitoring site
A look at the platforms of Popular trading also confirms consumers’ current desire to “hoist” their bitcoins and look at the market rather than withdrawing or converting currencies. The P2P Localbitcoins resource recorded a six-month low of weekly volume on global markets, with a total of 57 million transactions during the week ending February 24th.
Low Number of Transactions and Small Catalog Size untreated transactions continue to create some of the cheapest fees seen in months, with the Earn.com calculator currently recommending 40 satoshis, or about $ 0.005, byte.