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BTC - Block Tx Count, BRC-20-Adjusted

Description

The Bitcoin Block Tx Count, BRC-20-Adjusted shows the average number of transactions per block for each time period. Unadjusted Block Witness Size shows the adjustment's effect.

Inscription reveal transactions only are counted here; commit transactions are not.

Adjusted data starts at BRC-20's first block: 767430 (Dec 14, 2022)

Bitcoin's USD Market Price is included for reference.

Pseudocode

for each block in blockchain:
  block.tx_count := count(block.tx[])
  block.tx_count_brc := count(block.brc20_tx[])
  block.tx_count_adj := block.tx_count - block.tx_count_brc
  (x,y1) := (block.time, block.tx_count)
  (x,y2) := (block.time, block.tx_count_adj)

for each hour in blockchain:
  hr_tx_count := avg(blockchain[hr_start:hr_end].tx_count)
  hr_tx_count_adj := avg(blockchain[hr_start:hr_end].tx_count_adj)
  (x,y1) := (hour, hr_tx_count)
  (x,y2) := (hour, hr_tx_count_adj)

for each day in blockchain:
  day_tx_count := avg(blockchain[day_start:day_end].tx_count)
  day_tx_count_adj := avg(blockchain[day_start:day_end].tx_count_adj)
  (x,y1) := (day, day_tx_count)
  (x,y2) := (day, day_tx_count_adj)

Technical Info

Since inscriptions were made popular with the BRC-20 protocol, Bitcoin's transaction backlog has grown so much that most blocks since its inception have been filled up with transactions. This saturation has made it difficult to see non-BRC-20 activity without adjusting metrics. This chart separates the data and allows us to see both components.

Thankfully, and to the protocol design's credit, we can clearly see with this adjusted metric that there was no underlying transaction interference following the huge transaction inflow at the beginning of February.

Block transaction count is a network activity indicator, and can be noisy. Moving averages are recommended to reduce noise.

Hourly and daily aggregations are derived from block data using average for this metric.
Hourly data contains occasional gaps; no blocks were generated during these times.

Related Metrics

Disclaimers

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