The avg transaction value was sitting at approximately $25k per transaction four months ago but posted a yearly high on Oct 20 at $151,000 per transfer — representing a rise of over 500%.
The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the typical value of a transaction increase almost $50,000, up from $105,000, within the last 48 hours. This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017.
The $151k average value is 190 times over the price of Ethereum’s average transaction value of $793 USD, suggesting a significantly greater institutional presence within the Bitcoin markets.
However, the amount of daily Ethereum transactions increased by 30% amid the DeFi boom in August, reaching a 2-year high of 1.29 Mln on 10th Aug. Over an equivalent period, Bitcoin transactions consistently hovered between 300k and 350k, suggesting the Ethereum ecosystem was the first magnet for the new crypto users.
The number of Bitcoin active addresses also showed no significant changes, fluctuating between 650k and 970K over the last 4 months.
Accumulation figures show that institutional investors are beginning to notice as large investment firms, like Grayscale and Microstrategy, increased their accumulation of huge amounts of Bitcoin and other cryptocurrencies over a previous couple of months.
By the end of September, Grayscale controlled a minimum of 449,900 BTC or 2.4% of the present supply of Bitcoin, and Microstrategy owned 38,250 BTC.
Two weeks later, Jack Dorsey’s Square brought 4,709 BTC [approx $50 Mln] in Bitcoin.