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Key facts:
The network of Bitcoin recorded a maximum of 64.5 million transactions UTXO to the end of 2019.A revaluation of Bitcoin or mixers could be the reasons behind the increase.The UTXO Bitcoin reached an historical high at the end of 2019, registering up to 64,5 million daily transactions. This unusual increase has raised speculation in the community bitcoiner, as some believe it is related to the value of the criptomoneda.Jameson Lopp, researcher and maximalist Bitcoin, released this week a group of tweets highlighting the phenomenon. The UTXO increased from 49.6 million of transaction to the beginning of 2019, at a new record high of 64.5 million to end the year. In this way, Lopp estimated that the network would be recording a rough of a UTXO for every two seconds.
Bitcoin’s UTXO set rose from 49.6 M to an all-time high of 64.5 M, adding a net new UTXO every 2 seconds. https://t.co/temn8DGaEy pic.twitter.com/oz4dxRPBTj— Jameson Lopp (@lopp) December 30, 2019
The UTXO, also known for his term in English as an Unspent Transaction Output, also represent those outputs of transactions that are not spent. For example, if the holder of an address make a transaction valid in the blockchain, the UTXO represents those bitcoins returned as unspent funds from that address. Is indorma, in this way, the difference between the balance of an input and an output is spent.The UTXO are a measure which can be used to identify how many bitcoins spend, and maintains an address, as well as the network in general. Because of this, the community believes that its increase may be indicating that users are spending smaller amounts of bitcoin due to the increase of its value.
What Bitcoin more valuable or proliferate the mixers?
Internet users, such as @austinstuart, considered that the increase of transactions UTXO can be a positive sign for bitcoin; as it would be indicating that the criptomoneda has become more valuable with the passing of the years. This revaluation can be due to several factors, such as the price of the asset, the next halving or trends hodlear bitcoins —a term used to refer to the practice of holding cryptocurrencies in a wallet.The increase of UTXO would reveal that more and more users of Bitcoin they are carrying out a greater number of transactions with small amounts, leaving funds untouched in your direction. For example, according to data from Bitinfocharts the average value of a transaction in Bitcoin is 200 $ for the day, when in 2018 ranged between 1,000 and 500 us dollars per transaction. Also, with the advent of Lightning Network have begun to proliferate the micropayment in the network.72% of the addresses of Bitcoin stored for less than 90 dollars in cryptocurrencies, for which the mobilization of funds is tiny. In the same way, users now need a smaller amount of bitcoins to pay for the same services from years ago, so keep more bitcoins in their wallets. In this way, it would confirm that Bitcoin has become more valuable this past year in comparison with their performance in 2018.Another reason for the rise of UTXO can be that more and more users are deciding to save in bitcoins to multiply your winnings in the long term. In this sense, the approximation of the halving in 2020 could be encouraging the community not to mobilize funds to benefit from a future price rise.The proliferation of mixers, also known as mixers, can be another hidden reason behind this phenomenon. These services are in charge of dividing one or several transactions in multiple other smaller with the aim of mixing them together, making them hard to crawl. Because the process generates a higher amount of small amounts in the network that a transaction normal, you could be contributing to the increase of UTXO. To be certain this hypothesis, the rise in transactions of UTXO would reveal a popularization of the mixers among users of Bitcoin.