Average BTC transaction amount in dollars has grown sixfold in three months

Cryptocurrency exchange OKEx on Wednesday announced the resumption of crypto-fiat trading on its peer-to-peer platform. From today, Chinese yuan, Vietnamese dong and Indian rupees are available for exchange on it.

The average BTC transaction amount in dollars has grown sixfold in three months

According to BitInfoCharts, the average BTC transaction amount in dollars has grown sixfold over the past three months. At the beginning of the week, this figure rose sharply by almost $ 50,000 - before the weekend, the average transaction amount in bitcoins was equivalent to $ 105,000. The growth occurred shortly after the dominance of bitcoin in terms of capitalization rose to its highest levels since 2017.

The average transaction amount is defined as the dollar value of all BTC transferred per day, divided by the number of transactions. This parameter speaks mainly about the activity of large investors - it grows when large amounts of BTC are transferred more often.

Bitcoin's current average transaction size is 190 times that of Ethereum, which is $ 793. At the same time, the number of daily transactions on the Ethereum network increased by 30% amid the DeFi boom in August, reaching a two-year high of 1.29 million on August 10.

During the same period, the daily volume of bitcoin transactions ranged from 300,000 to 350,000. The number of active bitcoin addresses also did not change significantly and has been in the range from 650,000 to 970,000 for the last four months.

The latest data show that institutional investors are on the rise. Large investment firms such as Grayscale and Microstrategy have increased their investments in BTC and other cryptocurrencies over the past few months. In addition, at the beginning of the month, Jack Dorsey's Square company bought 4,709 BTC for $ 50 million. However, most large cryptocurrency transactions remain anonymous.

Recently, the number of addresses that store more than 100 BTC has grown to 16,159. This figure reached a maximum in six months.

Binance CEO Changpeng Zhao believes digital currencies from central banks could pose a real threat to bitcoin.

Agoric smart contract development platform integrated Chainlink oracles

Agoric allows developers to create smart contracts in JavaScript, one of the most popular programming languages ​​in the world. Chainlink's integration into Agoric potentially opens up many new possibilities for DeFi developers.

With Chainlink providing pricing and other information, developers can use Agoric to bundle DeFi projects together. DeFi and other blockchain applications are usually developed in internal programming languages ​​such as Solidity for Ethereum and interoperable blockchains. The Agoric platform allows developers to build dApps using the JavaScript language. The Chainlink integration is already available on the Agoric testnet, and the project plans to launch its mainnet on Cosmos in 2021.

“For the first time, JavaScript developers will be able to write secure smart contracts for DeFi using off-network data from Chainlink oracles,” said Agoric CEO Dean Tribble. “Agoric's integration with Chainlink will offer external data capture capabilities in the Agoric chain. JavaScript smart contracts can either directly request data or react to events based on Chainlink oracles. This combination enables DeFi decentralized applications to be brought to market faster. ”

Chainlink provides secure and accurate data for a variety of protocols including the popular DeFi Synthetix, Kyber Network, and dYdX applications. Agoric will now also use Chainlink oracles to transfer data to their platform.

“With this integration, developers will be able to use Javascript to create smart contracts that are triggered by real-world data,” said Daniel Kochis, head of business development at Chainlink. "We see this as an incredibly important step in integrating the world's largest developer community into the fast-growing DeFi industry."

Uniswap Trading Volumes Drop Along With DeFi Activity

Decentralized cryptocurrency exchanges (DEX) trading volumes have dropped 41% in the past 30 days, according to data from the Dune Analytics platform.

At the end of August, the weekly DEX turnover reached a record $ 8 billion, and the September maximum was $ 6 billion. Since then, the value has dropped to $ 3 billion, or 62% from the peak. The decline in volumes is also observed on the leading decentralized exchange Uniswap. On September 1, its turnover was approaching $ 1 billion, and yesterday it was equal to $ 234 million.

The popularity of the DEX skyrocketed in the summer amid increased traders' interest in decentralized finance (DeFi). Protocols from this space continue to hold billions of dollars in their pools, but growth has slowed over time.

“I believe DEX volumes are highly correlated with the overall DeFi market,” Johnson Xu, research director at Huobi DeFi Labs, told Decrypt.