거래당 BTC 출력량

This chart divides daily output volume by daily transaction count: the average BTC size of an on-chain transaction. The question it answers — is the chain currently running large-value settlement or small payments?

The long-run path of this average records how Bitcoin's usage has evolved. In the early years, with coins cheap, single transactions routinely moved hundreds of BTC. As price rose and the fee market matured, small payments migrated to exchange internal ledgers and Lightning, leaving the base layer looking ever more like a wholesale settlement network — and exchange batching (one transaction serving hundreds of withdrawals) pushed the per-transaction average up further. From 2023, inscription activity pulled the other way: floods of tiny-value Ordinals transactions visibly drag the average down.

Averages are outlier-sensitive — a single whale transfer or cold-wallet consolidation can multiply a day's figure; judge trends on monthly smoothing. Rises and falls carry no bull/bear meaning by themselves: the metric reflects structural change in who uses the chain and how, not aggregate demand. Read it against transaction counts: counts up with average size down usually means small-value activity (inscriptions) dominates; counts flat with average up is a wholesale-settlement signature.

Beyond network data, see the broader market via total crypto market cap and BTC liquidations.