នៅលើខ្សែសង្វាក់ Bitcoin Volume At Five-Year Low

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នៅលើខ្សែសង្វាក់ Bitcoin Volume At Five-Year Low

But the change-adjusted volume transfer of the network in dollar terms shows just how effectively bitcoin is scaling.

ខាង​ក្រោម​នេះ​គឺ​មក​ពី​ការ​បោះ​ពុម្ព​ផ្សាយ​ថ្មី​ៗ​នេះ​នៃ Deep Dive, Bitcoin ទស្សនាវដ្តីព្រឹត្តិបត្រព័ត៌មានទីផ្សារពិសេស។ ដើម្បីក្លាយជាមនុស្សដំបូងគេដែលទទួលការយល់ដឹងទាំងនេះ និងបណ្តាញផ្សេងទៀត bitcoin ការវិភាគទីផ្សារត្រង់ទៅប្រអប់សំបុត្ររបស់អ្នក ជាវឥឡូវនេះ.

Bitcoin on-chain volume (change adjusted) has touched a five-year low in bitcoin terms, currently at 329,226 BTC per day over the last seven days. Low on-chain volume has been a short term bearish indicator, as it demonstrates low demand to use the network.

There are a few reasons for this development, one of which is the explosive growth of the Lighting Network, coupled with the secular trend over the last decade of an increasing BTC/USD exchange rate. The same chart in U.S. dollar terms looks quite different.

Looking at the change-adjusted volume transfer of the network in dollar terms shows just how effectively bitcoin is scaling as a monetary network. Currently, the total change-adjusted transfer volume (seven-day moving average) on the Bitcoin network is $15.2 billion, off from a high of over $50 billion this April, in part because of the rebounding hash rate and faster-than-average block times.

Similarly, fees as a percentage of bitcoin mining revenue has fallen sharply, and is currently at 1.46%. With the block subsidy trending to zero over time as supply issuance is programmatically reduced in quadrennial fashion over the next 120 years, fees will eventually make up 100% of miner revenue. However, currently, with miner profit margins extremely large, this is not a worry and competition is extremely strong as miners are pulling in near-record revenue across 2021 (in dollar terms).

 

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