Bitcoin Network and Market Update for 26 May 2020
This article provides an update on the state of the Bitcoin network (on-chain analytics) and market (price action analysis and investor sentiment). It also looks at recent news that might have affected the price or Bitcoin (or might do so in the future), as well as interesting tweets about Bitcoin from prominent members of the crypto community.
- Reported Supply: 18,382,738 (as of 25 May 2020)
- Maximum Supply: 21,000,000
This chart from Bitcoin Visuals shows how Bitcoin’s total supply has changed over time:
Bitcoin Mining Hash Rate
The following chart from Bitcoin Visuals shows how the Bitcoin network’s hash rate has changed since May 10 (the day before the halving).
The pie chart below from Coin Dance shows the distribution of Bitcoin’s hash rate across various mining pools for the past seven-day period:
Fees Per Bitcoin Transaction (USD)
The red line on the chart below from Bitcoin Visuals shows how the average fee per Bitcoin transaction (in USD) has changed since the start of 2020.
Here are a few interesting data points:
- January 1: $0.24
- March 12 (“Black Thursday”): $0.98
- May 11 (Halving Day): $2.06
- May 20: $7.25 (highest fee in the year-to-date period)
- May 25: $2.86
Bitcoin’s Recent Price Action
According to data from CryptoCompare, Bitcoin is currently (at 13:50 UTC on May 26) trading at $8,835, up 0.88% in the past 24-hour period:
Here are a few return-on-investment (ROI) figures:
- 30-day period: +15.50%
- year-to-date (YTD) period: +23%
- three-year period: +330.55%
- five-year period: +3627.84%
Featured Image by “SnapLaunch” via Pixabay.com.
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