Decoding current state of Bitcoin amid the decline in number of large transactions
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="1200" height="800" />)
The decline in the number of large transactions on the Bitcoin network has raised questions about the future of the king coin.
According to data provided by glassnode, the number of large transactions, which accounted for a majority of the overall transactions on the Bitcoin network, declined after the FTX debacle.
In November, transactions over $10 million made up a significant portion of the overall volume of transactions, comprising 42.8% of the total transaction volume.
However, this has since declined, and these large transactions made up only 19% of the overall volume of on-chain transactions, at press time.
1 comment