Transfer Count Statistics

Two counts: total transactions (every on-chain operation) and transfers (those that actually moved value between distinct parties). The gap between them reflects batching, consolidation, and protocol overhead like inscriptions.

Throughput on Bitcoin's base layer is capacity-bound (~300–700k tx/day), so this chart saturates rather than trends — spikes above the band usually mean fee events (2017, 2023 inscriptions), while collapses mark demand droughts.