Bitcoin Shifts Towards Smaller Transactions, Fulfilling Satoshi's Vision

Recent data suggests that Bitcoin is shifting towards smaller transactions, aligning with Satoshi Nakamoto's original vision for the cryptocurrency.

CryptoQuant founder Ki Young Ju analyzed on-chain data and found that transaction fees on Bitcoin have been cheaper than Ethereum's since 2021. The median fee on Bitcoin is currently around $0.40, while Ethereum's is about $0.68.

Ju focused on transfers between $40 and $1,000 to identify likely peer-to-peer payments. He found that larger transactions were more common from 2019 to 2022, but since 2023, smaller transfers have become more frequent.

This trend indicates an increase in real-life peer-to-peer payments using Bitcoin, rather than just a store of value. Critics had long argued that Bitcoin hadn't lived up to its creator's expectations, but the data suggests otherwise.