{"id":29869,"date":"2020-10-09T14:42:53","date_gmt":"2020-10-09T11:42:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29869"},"modified":"2025-08-27T19:21:26","modified_gmt":"2025-08-27T16:21:26","slug":"report-bitcoin-transaction-volume-rose-25-in-q3","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/report-bitcoin-transaction-volume-rose-25-in-q3\/","title":{"rendered":"Report: Bitcoin transaction volume rose 25% in Q3"},"content":{"rendered":"

In the third quarter, Bitcoin transaction volume rose 25% from the previous period. The value transferred on the blockchain rose from $180 billion to $225 billion, according to The Block<\/a><\/p>\n

The image below shows that on-chain activity increased as the average price of BTC rose.<\/p>\n

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The average daily value transferred on the Bitcoin blockchain during the third quarter was $2.4 billion. Source: The Block.<\/p>\n<\/div>\n

Against the backdrop of growth in on-chain activity, trading volumes on cryptocurrency exchanges also increased. The rise for the third quarter was 22%.<\/p>\n

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Trading volumes on The Block-tracked exchanges rose from $168 billion to $207 billion. Source: The Block.<\/p>\n<\/div>\n

A nearly synchronous rise in on-chain activity and exchange turnover indicates a fairly tight correlation between the two metrics.<\/p>\n

During the third quarter, Bitcoin miners’ earnings from transaction fees rose by 88%.<\/p>\n

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The average daily miner revenue from transaction fees was $987 thousand. Source: The Block.<\/p>\n<\/div>\n

Lightning Network and Liquid<\/h2>\n

The number of public Lightning Network (LN) nodes in the third quarter rose by 15%.<\/p>\n

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Number of LN nodes and channels, as well as network capacity, as of 9 Oct 2020. Source: 1ML<\/a>.<\/p>\n<\/div>\n

The capacity of the Lightning Network rose by 16% in the same period, reaching a peak of 1,127 BTC.<\/p>\n

During the same period, the number of bitcoins active in Blockstream’s Liquid sidechain rose by 20%.<\/p>\n

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Source: The Block.<\/p>\n<\/div>\n

Also during the third quarter, the number of Bitcoins involved in batching rose by 4.7%.<\/p>\n

Earlier ForkLog reported<\/a> that in August the aggregate on-chain activity of Bitcoin and Ethereum rose by 38%.<\/p>\n

Subscribe to the ForkLog channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

In the third quarter, Bitcoin transaction volume rose 25% from the previous period. The value transferred on the blockchain rose from $180 billion to $225 billion, according to The Block.<\/p>\n","protected":false},"author":1,"featured_media":29870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1227,325,1851,1145],"class_list":["post-29869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-transactions","tag-lightning-network","tag-liquid-network","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=29869"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29869\/revisions"}],"predecessor-version":[{"id":29871,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29869\/revisions\/29871"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/29870"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=29869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=29869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=29869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}