Comparing bitcoin fundamentals at $8,000 in 2017 vs. 2019, what has changed?

Over the last 24-hours, there were 390,000 confirmed transactions between 600,000 addresses-representing an increase in confirmed transactions and a decrease in active addresses.

For bitcoin transactions to complete, they have to first get verified by all nodes.

Pending transactions are held in an area called the "Mempool." The higher the fee on a transaction, the more likely a miner is to pull the transaction from the Mempool and include it in the next block.

During the bull market of 2017, the number of bitcoin transactions increased rapidly, congesting the Mempool.

Transaction fees skyrocketed as urgent transactions competed for limited block space.

A number of on-chain and off-chain solutions have substantially increased Bitcoin's transaction capacity.

Batching, the bundling of transactions has decreased the total number of transactions conducted on the Bitcoin blockchain while allowing a greater number of economic transactions to take place.

As a result, fees decreased as more transactions could flow through the network...Lightning Network is a second layer solution that uses micropayment channels to scale Bitcoin's transaction capabilities.

It allows small transactions to take place outside of the main Bitcoin blockchain at a minimal cost.

This number got as high as 1,120 BTC as bitcoin was reaching its all-time high of $19,900, increasing the price of every transfer from $4 to $50. Over time, transaction fees have experienced a steady decline in cost thanks to the different solutions mentioned above.