The volume of bitcoin transfers in the chain has risen over the past month, eventually reaching an annual high of 3.2 million BTC on 9 September. Meanwhile, the activity of visual exchange in the chain has decreased; Only 3.6%, or 115,000 BTC, was traded on trading platforms during the day.

This does not necessarily mean that the trading volume on the stock exchange has decreased, because trading on the central stock exchanges always takes place outside the chain – if anything, it has grown.

Most of the actions in the chain are registered on central exchanges when users deposit or withdraw money. As such, this trend may actually indicate that users are choosing to move their assets back and forth at a slower pace.

Since the growth in the volume of bitcoin transfers along the chain is most likely not related to exchange activity, it is probably related to the broader adoption of the asset in the economy. This scale was last seen on August 21, 2020, when it appeared to rise to almost 25 million bitcoins. It looks like it was weird, since we do not know exactly why.

Source: CoinTelegraph