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BTC - Transaction Volume (Sat)
Description
The Bitcoin Transaction Volume (Sat) shows BTC volume transacted on-chain excluding coinbase transactions, in Satoshis. 1 BTC = 100 000 000 Satoshis (Sat). No adjustments are applied.
Bitcoin's USD Market Price is included for reference.
Pseudocode
for each block in blockchain:
tx_vol := block.btc_sum - block.coinbase_btc
(x,y) := (block.time, tx_vol)
for each hour in blockchain:
hr_tx_vol := sum(blockchain[hr_start:hr_end].tx_vol)
(x,y) := (hour, hr_tx_vol)
for each day in blockchain:
day_tx_vol := sum(blockchain[day_start:day_end].tx_vol)
(x,y) := (day, day_tx_vol)
Technical Info
This metric is unaffected by price. Along with shifts in demand, significant events in the marketplace can show up as high volume periods. Note the spike around the Terra/LUNA collapse.
This is on-chain only activity. Off-chain activity such as exchange trades are not visible here, and until exchange transactions are reflected on-chain, they should be considered self-reported. On-chain activity is more verifiable than any single exchange's reported trade activity.
Unadjusted network volumes are subject to significant intra-entity consolidation and noise. This metric should be used in conjunction with others to form meaningful conclusions.
- Hourly and daily aggregations are derived from block data using sum for this metric.
- Hourly data contains occasional gaps; no blocks were generated during these times.
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