Bitcoin on-chain summary: On-chain activity surging
Over the past few days, many happenings in the market have led to a surge in on-chain activity.
May 15th 2022
Source: Blockchain.com
The daily transaction volume surged by 76%, primarily caused by an increase in the average transaction value of 72%.
Larger transaction sizes are typical in such high spot volume periods, as traders move their coins to or between exchanges, further confirmed by the number of exchange withdrawals reaching a 5-month high.