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Number of Bitcoin Transactions Reaches Historic Peak in Today's Block: Possible Reasons

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Sat, 06/12/2021 - 11:24
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Yuri Molchan
Bitcoin block 687249 that emerged today contains a record number of transactions – 4,075, insider Colin Wu suggests reasons for this
Number of Bitcoin Transactions Reaches Historic Peak in Today's Block: Possible Reasons
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Chinese journalist Colin Wu, who covers the blockchain and crypto industries, has reported that the Bitcoin block 687249 mined today, on June 12, contains a record number of BTC transactions – a whopping 4,075.

Meanwhile, an average number of BTC transactions per block is usually 1,609, with today’s figure showing a 4x increase.

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Wu believes that this sudden rise is related to the restriction measures imposed by the Chinese government on Bitcoin miners this week and a major drop in the Bitcoin hashrate, which shows that Bitcoin block production has slowed down.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.