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In the third quarter the volume of bitcoin transactions grew by 25%

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In the third quarter, the volume of bitcoin transactions increased by 25% over the previous period. The amount of value transferred on the blockchain has grown from $180 billion to $225 billion, according to a report by The Block.

In the image below, you can see that transaction activity has increased amid the rise in the average BTC price.

Against the background of the growth of on-chain activity, the trading volumes on crypto exchanges also increased. According to the results of the third quarter, the indicator grew by 22%.

The almost synchronous growth in on-chain activity and the turnover of trading floors indicates a fairly close correlation between the two indicators.

During the third quarter, Bitcoin miners’ revenue from transaction fees rose 88%.

Lightning Network and Liquid

The number of public nodes of the Lightning Network (LN) in the third quarter grew by 15%.

The number of nodes and channels, as well as the capacity of the Lightning Network as of 09/10/2020. Source: 1ML.

The capacity of the Lightning Network increased by 16% over the same period, peaking at 1127 BTC.

During the same period, the number of bitcoins involved in the Liquid sidechain from Blockstream has grown by 20%.

Also during the third quarter, the number of bitcoin outputs involved in batching increased by 4.7%.

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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