Average value of each Bitcoin (BTC) transaction increased 500%
The average value per transaction of Bitcoin (BTC) has managed to increase 500% since July of this year. Why did this happen?
Amid a major bullish momentum for the price of Bitcoin (BTC), the leading crypto has seen a 500% increase in average value per transaction since July this year.
Bitcoin experiences a 500% increase, but not in price
According to data from BitInfoCharts, the average value per transaction was approximately $ 25,000 just four months ago. Currently, this average stands at USD 151,000 per transfer.
Therefore, the average value per transfer of Bitcoin has increased 500% in just about four months.
However, that is not the only surprising thing. On September 18, a peak began that, for now, has lasted 48 hours, where the average value per transaction went from USD 105,062 to USD 151,779.
When compared to Ethereum, the current average value per transaction of Bitcoin is 190 times that of Ethereum. But what does this mean?
Why does this happen?
Well, it means that in Bitcoin there is currently a significant increase in the institutional presence that is capable of moving said amounts of money through the leading crypto.
The previous conclusion coincides precisely with the increase in investments in Bitcoin that have been made public such as MicroStrategy and Square.
However, in contrast, BitInfoCharts data regarding the number of new active addresses did not show a significant increase. This means that the increase in operations is not due to the entry of significant numbers of new investors.
Meanwhile… Bitcoin gets a boost from PayPal
That’s right, it seems that the leading crypto has finally managed to overcome the key level of $ 12,000 once and for all. The catalyst has apparently been the news that PayPal would back Bitcoin.
In this way, data from CoinTelegraph, Markets, Coin360 and TradingView confirmed the best day of Bitcoin in more than a year, as the gains in 24 hours exceeded 7%.
According to the CryptoTrend tool, Crypto Online, Bitcoin is currently trading at $ 12,820.
PayPal’s push comes after it announces its plans to support BTC and three additional altcoins: Ethereum, Litecoin, and Bitcoin Cash starting next year.
Reactions to the news are both positive and negative, but it certainly pushed its price to a new level. Will he be able to resist?
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.