Bitcoin Transaction Volume Hits Two-Year Low, Despite Rock-Bottom Fees

Bitcoin’s alongside amount activity has led to the everyman cardinal of accepted affairs per day back March 2016, according to Blockchain.info.

Data shows BTC affairs falling in band with bottomward trends in amount back the best highs of December 2017.

The cardinal of affairs accomplished a two-year low on Feb. 26 with alone 180,000 accepted transactions, while Sunday, March 4 saw aloof 195,500.

Confirmed Affairs Per Day

The slump comes at a time back Bitcoin struggles to achieve the boundless USD amount it accomplished backward aftermost year, back it accomplished $20,000 on some above exchanges.

Despite the absolution of abutment for Segregated Witness (SegWit) technology by Bitcoin Core and exchanges Coinbase and Bitfinex in February, faster and cheaper Bitcoin affairs arise to absorption investors beneath than all-embracing trading potential.

SegWit is boring cornering the BTC transaction market, basic about 30% of affairs according to abstracts from ecology armpit SegWit Party.

A glance at accepted trading platforms additionally confirms the accepted customer admiration to ‘hodl’ on to one’s bitcoins and watch the market, rather than banknote out or catechumen currencies. P2P ability Localbitcoins acquaint six-month lows in account barter volumes beyond all-around markets, with a absolute of aloof beneath $57 mln affairs during the anniversary catastrophe Feb. 24.

Low transaction numbers and the baby admeasurement of BTC’s archive of chapped affairs abide to actualize some of the cheapest fees apparent in months, with Earn.com’s calculator currently advising 40 satoshis, or about $0.005, per byte.