Bitcoin transactions per block at all-time highs

The average number of Bitcoin transactions per block reached an all-time high of over 2,700 transactions on Mar. 29.

Average Bitcoin transactions per block represent how many transactions are included in each 2 MB block, on average, in a given day.

Assuming an average transaction occupies 570 bytes of data, then a block can contain approximately 3,500 transactions, given the 2 MB limit.

Bitcoin transactions per block now at all time high.

On Mar. 31, 2018, the figure hit a three-year low of 830 transactions per block.

On Mar. 23, average Bitcoin transactions per block shot up from 1,500 to 2,700, an increase of 80 percent.

The sudden increase could signal increasing bitcoin adoption, but it is more likely to stem from growing trading-related transactions.

The average transactions per block do not include transactions conducted over the Lightning Network.

The number of transactions facilitated by Bitcoin could be much higher, especially considering that the Lightning Network has also seen steady month-over-month growth.

As Bitcoin blocks approach saturation, then the transaction fees per block will undoubtedly increase.