The average Bitcoin (BTC) transaction value has risen significantly since July this year.

The average transaction cost four months ago was about $ 25,000 per transaction, but on October 20, the annual increase was $ 151,000 per conversion – an increase of over 500%.

According to the latest tip shown on BitInfoCharts data analytics platform, the average transaction value has increased by $ 50,000, up from $ 105,000 in the last 48 hours. This increase in transaction costs came shortly after Bitcoin’s commercial dominance rose to levels not seen since 2017.

The average cost of $ 151,000 is 190 times the average Ethereum transaction cost of $ 793, indicating a significantly greater institutional presence in the bitcoin markets.

However, Ethereum’s daily transactions increased by 30% at the height of the DeFi boom in August, reaching a two-year high of 1.29 million on August 10. Over the same period, Bitcoin transactions have steadily declined by 300,000-350,000, indicating that the Ethereum ecosystem has been a major magnet for new cryptocurrencies.

The number of active bitcoin addresses also hasn’t undergone any major changes, ranging from 650,000 to 970,000 over the past four months.

Accumulation numbers show that institutional investors are starting to notice that big investment companies like Grayscale and Microstrategy have increased the accumulation of large volumes of bitcoins and other cryptocurrencies in recent months.

At the end of September, Grayscale had at least 449,900 BTC, or 2.4% of the current Bitcoin supply, while Microstrategy had 38,250 BTC.

Two weeks later, Jack Dorsey Square bought 4,709 BTC (about $ 50 million) in Bitcoin.

Source: CoinTelegraph