The favorable condition of the bitcoin market is characterized not only by the increased price of the cryptocurrency itself but also by several indicators, such as the median transaction size and the number of active entities in the network.
In its latest report, Glassnode reported that the median transaction size of BTC transactions has been increasing since mid-September, adding that the median is currently at 1.3 BTC.
We last saw such high values of BTC transactions in March 2020, when the maximum value of 1.7 BTC per TX was measured.
According to analysts, the increased size of the transactions is a good sign. This indicates in particular that the number of institutional investors and large traders in the market is gradually increasing.
When it comes to the second indicator mentioned above, namely the active entities in the network, or the number of participants in the chain, the most significant increase was recorded in the first week of October.
Currently, the number of active entities is at 291K, which is an increase of 19% in just one week. The last time we found ourselves at a similar level was at the end of 2020, in a period known as the beginning of the bull run.
