{"id":529864,"date":"2023-05-04T13:30:18","date_gmt":"2023-05-04T13:30:18","guid":{"rendered":"https:\/\/wncen.com\/?p=529864"},"modified":"2024-06-11T14:36:00","modified_gmt":"2024-06-11T14:36:00","slug":"bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/","title":{"rendered":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Bitcoin prices might be firmer when writing on May 4, rallying above $29,000 and breaking above local resistance levels in lower time frames. But the Mean Transaction Size, based on the 7-day moving average, is at a 3-year low, according to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;m=transactions.SizeMean&amp;mAvg=7&amp;s=1648944606&amp;u=1672154672&amp;zoom=\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Glassnode<\/span><\/a><span data-preserver-spaces=\"true\">, a blockchain analytics firm.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin\u2019s Mean Transaction Size Crashing<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The Mean Transaction Size relays the average transaction size over a given period. It can be used as a lead to gauge the level of activity. Typically, the higher the demand for BTC, the better the prices.<br \/>\n<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/uPYG43al\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/uPYG43al\/\" alt=\"Bitcoin Price On May 4| Source: BTCUSDT On Binance, TradingView\" width=\"1280\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin Price On May 4| Source: <a href=\"https:\/\/www.tradingview.com\/x\/uPYG43al\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Considering the decentralized nature of public networks, including Bitcoin, transactions are packed in blocks before being confirmed and added to the longest chain.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-market-in-disarray-but-optimism-prevails-with-two-narratives\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Market in Disarray, But Optimism Prevails With Two Narratives<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The size of each Bitcoin block is fixed at 1 MB; therefore, the number of transactions that can be packed in a block directly depends on the size of each transaction. On average, BTC transactions can be between 300 and 400 bytes. Coupled with the set transaction processing time of roughly 10 minutes, transaction sizes, and by extension, the block size cap, directly impacts the network\u2019s throughput.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A notable observation is that the mean transaction size in Bitcoin has been rapidly falling over the past few weeks. <\/span><span data-preserver-spaces=\"true\">There was a sharp expansion from late January 2023 when the mean transaction size rose from around 590 to 1,195 in mid-February.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It then see-sawed in the following weeks, falling from 1,192 in late March to 820 in early April. It crashed to 467.949 on May 2, the lowest in three years.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc9 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> Mean Transaction Size (7d MA) just reached a 3-year low of 467.949<\/p>\n<p>Previous 3-year low of 468.425 was observed on 02 May 2023<\/p>\n<p>View metric:<a href=\"https:\/\/t.co\/PJ0bkLTuVs\" rel=\"nofollow\">https:\/\/t.co\/PJ0bkLTuVs<\/a> <a href=\"https:\/\/t.co\/WNZE2VmaOM\" rel=\"nofollow\">pic.twitter.com\/WNZE2VmaOM<\/a><\/p>\n<p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/06436614?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 4, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span data-preserver-spaces=\"true\">Blame The Ordinals<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The initial expansion in late January could be attributed to the launch of the Bitcoin Ordinals platform. <\/span><span data-preserver-spaces=\"true\">The portal allows individuals to attach files, including texts, images, and videos, to Satoshis. Afterward, these files are stored in Bitcoin blocks after being confirmed by miners.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Because each file is unique and exists as a transaction, every Ordinal stored in a Bitcoin block has been compared to non-fungible tokens (NFTs), though they are not technically NFTs. And <\/span><span data-preserver-spaces=\"true\">Dune data\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/dune.com\/dgtl_assets\/bitcoin-ordinals-analysis\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that over 3.5 million inscriptions have been added to the Bitcoin network.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, while the number continues to rise, there is a marked shift in the types of files attached. In the early days of the Bitcoin Ordinals, there were more images, which were bigger than texts and other files, such as audio or applications.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/why-is-bitcoin-and-crypto-up-today\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Regains Strength Post Fed Hike, $30K Could Be Next<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Over the months, this has changed, and there are more text inscriptions. Texts are smaller in size than, for example, images or videos.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As such, this might explain the rapid drop in the mean transaction size based on the 7-day moving average, especially over the last few weeks from April 2023.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin prices might be firmer when writing on May 4, rallying above $29,000 and breaking above local resistance levels in lower time frames. But the Mean Transaction Size, based on the 7-day moving average, is at a 3-year low, according to Glassnode, a blockchain analytics firm. Bitcoin\u2019s Mean Transaction Size Crashing The Mean Transaction Size relays the average transaction size over a given period. It can be used as a lead to gauge the level of activity. Typically, the higher the demand for BTC, the better the prices. Considering the decentralized nature of public networks, including Bitcoin, transactions are packed in blocks before being confirmed and added to the longest chain.\u00a0 Related Reading: Bitcoin Market in Disarray, But Optimism Prevails With Two Narratives The size of each Bitcoin block is fixed at 1 MB; therefore, the number of transactions that can be packed in a block directly depends on the size of each transaction. On average, BTC transactions can be between 300 and 400 bytes. Coupled with the set transaction processing time of roughly 10 minutes, transaction sizes, and by extension, the block size cap, directly impacts the network\u2019s throughput. A notable observation is that the mean transaction size in Bitcoin has been rapidly falling over the past few weeks. There was a sharp expansion from late January 2023 when the mean transaction size rose from around 590 to 1,195 in mid-February. It then see-sawed in the following weeks, falling from 1,192 in late March to 820 in early April. It crashed to 467.949 on May 2, the lowest in three years. \ud83d\udcc9 #Bitcoin $BTC Mean Transaction Size (7d MA) just reached a 3-year low of 467.949 Previous 3-year low of 468.425 was observed on 02 May 2023 View metric:https:\/\/t.co\/PJ0bkLTuVs pic.twitter.com\/WNZE2VmaOM &mdash; glassnode alerts (@glassnodealerts) May 4, 2023 Blame The Ordinals The initial expansion in late January could be attributed to the launch of the Bitcoin Ordinals platform. The portal allows individuals to attach files, including texts, images, and videos, to Satoshis. Afterward, these files are stored in Bitcoin blocks after being confirmed by miners.\u00a0 Because each file is unique and exists as a transaction, every Ordinal stored in a Bitcoin block has been compared to non-fungible tokens (NFTs), though they are not technically NFTs. And Dune data\u00a0shows\u00a0that over 3.5 million inscriptions have been added to the Bitcoin network.\u00a0 However, while the number continues to rise, there is a marked shift in the types of files attached. In the early days of the Bitcoin Ordinals, there were more images, which were bigger than texts and other files, such as audio or applications.\u00a0 Related Reading: Bitcoin Price Regains Strength Post Fed Hike, $30K Could Be Next Over the months, this has changed, and there are more text inscriptions. Texts are smaller in size than, for example, images or videos.\u00a0 As such, this might explain the rapid drop in the mean transaction size based on the 7-day moving average, especially over the last few weeks from April 2023. Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":529865,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,87917,679,88209,8167],"class_list":["post-529864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-ordinals","tag-bitcoin-price","tag-mean-transaction-size","tag-scalability"],"acf":[],"yoast_head":"\n<title>Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?<\/title>\n<meta name=\"description\" content=\"Bitcoin prices shot above $29,000 on May 4 despite the mean transaction size crashing to a 3-year low weeks after Ordinals launch.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?\" \/>\n<meta property=\"og:description\" content=\"Bitcoin prices shot above $29,000 on May 4 despite the mean transaction size crashing to a 3-year low weeks after Ordinals launch.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-04T13:30:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:36:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780\" \/>\n\t<meta property=\"og:image:width\" content=\"1380\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?\",\"datePublished\":\"2023-05-04T13:30:18+00:00\",\"dateModified\":\"2024-06-11T14:36:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\"},\"wordCount\":491,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780\",\"keywords\":[\"bitcoin\",\"Bitcoin Ordinals\",\"bitcoin price\",\"Mean Transaction Size\",\"scalability\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\",\"url\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\",\"name\":\"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780\",\"datePublished\":\"2023-05-04T13:30:18+00:00\",\"dateModified\":\"2024-06-11T14:36:00+00:00\",\"description\":\"Bitcoin prices shot above $29,000 on May 4 despite the mean transaction size crashing to a 3-year low weeks after Ordinals launch.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780\",\"width\":1380,\"height\":780,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\",\"name\":\"Dalmas Ngetich\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g\",\"caption\":\"Dalmas Ngetich\"},\"description\":\"Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/\",\"https:\/\/x.com\/Dalmas_Ngetich\"],\"url\":\"https:\/\/wncen.com\/author\/dalmasngetich\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?","description":"Bitcoin prices shot above $29,000 on May 4 despite the mean transaction size crashing to a 3-year low weeks after Ordinals launch.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?","og_description":"Bitcoin prices shot above $29,000 on May 4 despite the mean transaction size crashing to a 3-year low weeks after Ordinals launch.","og_url":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-05-04T13:30:18+00:00","article_modified_time":"2024-06-11T14:36:00+00:00","og_image":[{"width":1380,"height":780,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780","type":"image\/jpeg"}],"author":"Dalmas Ngetich","twitter_card":"summary_large_image","twitter_creator":"@Dalmas_Ngetich","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Dalmas Ngetich","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/"},"author":{"name":"Dalmas Ngetich","@id":"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586"},"headline":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?","datePublished":"2023-05-04T13:30:18+00:00","dateModified":"2024-06-11T14:36:00+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/"},"wordCount":491,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780","keywords":["bitcoin","Bitcoin Ordinals","bitcoin price","Mean Transaction Size","scalability"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/","url":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/","name":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780","datePublished":"2023-05-04T13:30:18+00:00","dateModified":"2024-06-11T14:36:00+00:00","description":"Bitcoin prices shot above $29,000 on May 4 despite the mean transaction size crashing to a 3-year low weeks after Ordinals launch.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780","width":1380,"height":780,"caption":"Bitcoin"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586","name":"Dalmas Ngetich","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g","caption":"Dalmas Ngetich"},"description":"Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?","url":"http:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin ordinals","bitcoin price","mean transaction size","scalability"],"dateCreated":"2023-05-04T13:30:18Z","datePublished":"2023-05-04T13:30:18Z","dateModified":"2024-06-11T14:36:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Rips Above $29,000, But Why Is The Mean Transaction Size At A 3-Year Low?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-rips-above-29000-but-why-is-the-mean-transaction-size-at-a-3-year-low\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Bitcoin-Mean-Transaction-Size.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin ordinals\",\"bitcoin price\",\"mean transaction size\",\"scalability\"],\"dateCreated\":\"2023-05-04T13:30:18Z\",\"datePublished\":\"2023-05-04T13:30:18Z\",\"dateModified\":\"2024-06-11T14:36:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Mean-Transaction-Size.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/529864"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=529864"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/529864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/529865"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=529864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=529864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=529864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}