Data on the ChainsMap chain: 2 to 3, the price of the currency is rushing to drive the data on the chain to rise significantly
If in mid-March 2020, someone expected the price of Bitcoin to reach a record high of $20,000 in that year, I believe most people would think that he was dreaming. However, such a thing just happened. When there were many incidents on the exchange from October to November, the price of Bitcoin started strongly and moved towards 20,000 US dollars. In the past December, Bitcoin even marched toward $30,000, leaving behind a picture of wealth that has been ups and downs but skyrocketing since the creation of Bitcoin.
So what will happen to the data on the chain in December, which surprises investors and surprises onlookers? Next, let us review and analyze the data on the chain in December.
From the perspective of transaction volume data, in December 2020, the transaction volume on the Bitcoin chain was 58683648.88 BTC, which was 10.62% lower than the 65654222.88 BTC in November 2020. In fact, although the currency price rose sharply in December, the real transactions Active, the time period for establishing the general trend of Bitcoin price rise is still in November.
However, in terms of actual transaction volume, in December 2020, the actual transaction volume on the Bitcoin chain was 17614096.97 BTC, an increase of 5.96% compared to 16623349.37 BTC in November 2020.
Judging from the comparison of Bitcoin price and transaction volume in the past two months, when the currency price is showing a rising trend, the fluctuation of transaction volume on the chain is still large, but it often jumps when the price changes significantly in stages , For example, the sharp rise in mid-December and the end of December.
In December 2020, the number of large-value transfers on the chain was 39,190, an increase of 2.37% from 38,282 in November 2020.
Judging from the Bitcoin price and the number of large-value transfers in the past two months in November and December, the currency price started a new start in mid-December, and the number of large-value transfers increased significantly, which is also reflected in the exchange chain. The increase in activity is because the exchange basically packs them into large transfers in batches to save costs, no matter whether it collects users’ deposits or withdraws them for them.
In December 2020, the total number of transactions on the Bitcoin chain was 9,700,094, an increase of 7.30% from 9,040,298 in November.
Judging from the comparison between the number of transactions on the chain and the price of Bitcoin in the past two months, the fluctuations in November and December were not large, and the number of transactions is usually not as sensitive to the price of the currency as the number of large transfers.
Let’s look at the number of active addresses, that is, the number of addresses that initiate transfers. In December 2020, the number of active addresses was 20,481,883, an increase of 6.18% from 19,289,051 in November 2020.
Judging from the relationship between the number of active addresses and the currency price in the past two months, the number of active addresses still has a certain upward trend after the currency price rise started in mid-December.
The above is the overall changes in the transactions on the chain in December. It can be seen that the currency price has broken through the $20,000 mark and is sprinting to the stage of $300 million. Compared with November, the overall data on the chain has improved to a certain extent, especially in Exchange-related data such as the number of large transfers reflects the further increase in investor activity.
At the time of writing this review of December data, we also see that the price of Bitcoin has broken through $32,000 into the new year. In the next part of the December data review, we will further reveal the performance of the exchange in December.
