Network growth has been steadily growing larger and stronger over the last two years. While many people only look at the value of bitcoin, they are failing to see the adoption rate. The bitcoin price may have dipped slightly recently, and the record all-time high price of $1,124 USD of late November 2013 may now seem like a long way off. The bitcoin network itself is continuing to grow larger than ever. While according to Metcalf’s Law, which states the value of a telecommunications network is proportional to the square of its users. There comes a point in this rate of growth where the tipping point is more easily discernable. This article aims to give alternative insight into the growth within bitcoin. We can safely assume that if the total rate of growth and adoption included the entire cryptocurrency space then the numbers would show an even greater adoption rate.
And we can see the exponential growth of the bitcoin network by looking at the following data. The number of transactions per day on a seven-day average excluding popular address recently peaked to a new all-time high. From around 21,000 per day on a seven-day average about two years ago. Up to recently nearly 114,000 transactions per day on a seven-day average.
The last two years of data containing the number of transactions excluding popular addresses.
The number of transactions that are in chains of less than ten transactions. So excluding all bitcoin mixer and tumbling transactions. Plus a lot of other legitimate transactions as well. Also recently peaked to a new all-time high. From a low of around 10,000 per day on a seven-day average around two years ago. To a record new all-time high of just under 40,000 per day on a seven-day average recently.