Thursday, July 29

Number of Bitcoin Transactions Reached Historic Peak in Today’s Block

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Bitcoin (BTC) block 687249, which appeared today, contains a record number of transactions: 4,075. Journalist Colin Wu explained the reasons for this.

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Chinese journalist Colin Wu, who produces news in the field of blockchain and crypto industries, reported today that the Bitcoin block number 687249, which was released on June 12, contains a record number of BTC transactions: 4,075. Normally, the average number of BTC transactions per block is usually 1609, with today’s figure increasing by a factor of 4.

Wu believes this spike is related to the Chinese government’s restrictions on Bitcoin miners this week and the massive drop in the Bitcoin hash rate, which has shown a slowdown in Bitcoin block production. Wu uses the following expressions:

“According to OKLINK, Bitcoin block 687249, containing 4,075 transactions, appeared on the 12th. It is rare in history for a block to contain such a high number of transactions. This is because China is restricting mining and the drop in hash rate results in slower block production.”

On the other hand, another user stated that the reason for this was not related to the news that created FUD in China, but only because of the 3000 SegWit transactions in that block.

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