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BTC - Avg Block Transaction Count, Entity-Adjusted

Description

The Bitcoin Average Block Transaction Count, Entity-Adjusted shows the average number of inter-entity transactions per block. Inter-entity transactions contain at least one output owned by an entity other than the sender.

The Bitcoin Average Block Transaction Count, Coinbase-Adjusted shows the average number of transactions per block, minus each block's singular coinbase transaction.

Bitcoin's USD Market Price is included for reference.

Coinbase transactions are excluded in all series on this chart.

Pseudocode

Bitcoin Block Transaction Count, Unadjusted:

for each block in blockchain:
(x,y1) := (block.time, block.tx_count-1)

for each hour in blockchain:
hr_blk_tx_count := avg(blockchain[hr_start:hr_end].block[].tx_count-1)
(x,y1) := (hour, hr_blk_tx_count)

for each day in blockchain:
day_blk_tx_count := avg(blockchain[day_start:day_end].block[].tx_count-1)
(x,y1) := (day, day_blk_tx_count)

Bitcoin Block Transaction Count, Entity-Adjusted:

for each block in blockchain:
  block.tx_count_eadj := 0
  for each tx in block:
    tx.mesmerdata_annotate_entity_info()
    if not tx.is_intra_entity and not tx.is_coinbase:
      block.tx_count_eadj += 1
  (x,y2) := (block.time, block.tx_count_eadj)

for each hour in blockchain:
hr_blk_tx_count_eadj := avg(blockchain[hr_start:hr_end].block[].tx_count_eadj)
(x,y2) := (hour, hr_blk_tx_count_eadj)

for each day in blockchain:
day_blk_tx_count_eadj := avg(blockchain[day_start:day_end].block[].tx_count_eadj)
(x,y2) := (day, day_blk_tx_count_eadj)

Technical Info

This chart shows the average total and inter-entity transaction counts per block, per unit time. Coinbase transactions are excluded from all series on this chart.

Entity-adjusting a series means removing transactions that do not move any assets between entities.
For a transaction to qualify as inter-entity, at least one output must belong to a different entity than the sending entity.
For a transaction to qualify as intra-entity, all outputs must belong to the sender entity.

Entity-adjusted metrics use Mesmer Data's proprietary entity grouping algorithm.

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

Our entity tracking uses a proprietary algorithm, the foundation of which groups transaction input addresses. We currently track over 99 600 000 entities, spanning over 795 000 000 addresses. The largest entity has approximately 37 480 000 addresses, and the average has 7.98.

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

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