Even in Corona Pandemic Bitcoin still witness atleast 4 Transactions Per Second

The world is currently struggling with economic crisis as Coronavirus has hit hard. Even the world largest economy has been brought down to it’s low. There is a surge in people those has filed unemployment. A report by US labour department, over 33 millions people have already filed jobless claims, i.e., 1 in 5 American workers is jobless and looking for unemployment benefits. This is just the case with United States, there are billions of people around the world jobless. The stock market crashed in most countries but still considerably there is a less impact in the digital crypto-currencies by the pandemic.

Interesting point in the crypto world is that there are still around 3,00,000 bitcoin transactions per day recorded. That’s around 4 bitcoin transactions per second. That’s a lot of transactions considering cryptocurrency is still not known to many as a digital currency. Blockchain.com website keeps a track of all the network activity which includes unique addresses used, confirmed transactions per day, transaction rate per second, Mempool transaction count, mempool size growth, output value per day, transaction fees charged per day and most importantly estimate transaction value in USD and BTC. Here is the detailed graph of confirmed bitcoin transactions per day.

Bitcoin transactions per day recorded |                    Image Source: Blockchain.com

Hot of press is that someone has moved 50 bitcoins which were mined in February 2009 and it’s claimed either Satoshi Nakamoto or Craig Wright. In this Immediate bitcoin transaction, possibly someone moved from Bitcoin to Ethereum. This single move has caused bitcoin price decline by 440 USD, a notable 4.63% fall in the past 24 hours.

There a stir on who moved the coin. According to reports by CryptoPotato, it’s Craig who did the transaction not Satoshi. Adding to the claim is Adam Back, co-founder and CEO of Blockstream said that “If Satoshi was selling coins, surely he would be selling his most recently mined” to keep his anonymity in check.

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Considering the situation worldwide due to lockdown, bitcoin transactions per second and per day statistics has not only surprised us but also many other users.

This post was last modified on May 25, 2020 2:06 PM

Yogesh Khetani: Yogesh Khetani is a Tech Geek and has a Bachelor of Technology degree. He runs https://blucellphones.us and https://Yooh.us/ websites that has identified its place among the top websites in its niches. He likes to keep updated with the latest technology and right now he is learning more about the Artificial Intelligence and ChatGPT's practical uses. His social media profiles are regularly updated with useful information.