Bitcoin Cash Fundamentals: Active Addresses, TX Volume, TX Count

TL;DR: Markets are hard to measure. Economists (the dank kind) have postulated how trying to fix prices at a static point in time renders inaccurate statistics due to the complexity of human action and limited nature of individual understanding. Yet, in the cryptocurrency space, price and market capitalization are the end-all-be-all of value determination. And while there’s certainly value to be ascertained, there might be better metrics to observe other than multiplying a given price by the entire circulating supply. Hence, Muh Bitcoin Cash Fundamentals.  

Bitcoin Cash Fundamentals: On-chain Data Update 2/19/19 – 2/25/19

Luckily, a feature of blockchains is transparency, which provides data aggregators sufficient information to construct useful measures on-chain fundamentals such as active addresses, transaction volume, and transaction count. Let’s dive into the fundamentals of BCH.

There were about 25.5k active addresses yesterday, making a week-over-week (WoW) change of about -15.46%. It had a high of 30.2k and a low of 23k over the past week.

Transaction Volume grew at 21.9% WoW. It settled $384m from a start of $315m. It had a low of $153m and a high of $384m.

Transaction Counts fell by 32.71% WoW. It had a high of 19.9k transactions and a low of 12.7k.

Larger trends indicate month-over-month (MoM) declines are becoming less severe since the November Hash War, which appeared to have inflated metrics for non-consumer reasons.

February is showing positive signs of growth for BCH transaction counts already up 6.4%. Transaction volume went from -68.8% to -51.7% for this past month. Active addresses is hugging the zero line coming in with 4.6% and 6% for the past two months.

It’s hard to exactly say what contributes to these particular fundamentals, but with the BCH community’s emphasis upon merchant adoption and software development, perhaps these are signs of a crypto culture continuing to build during an extended bear market.

Originally published on CoinSpice on February 26, 2019.

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