Dash Surpasses Bitcoin Cash (BCH) And Bitcoin SV (BSV) In Daily Transaction Volume
It may come out as a shock to many in the crypto community, but looking at the Daily Transaction Volume in the last two months, Dash seems to be ahead of Bitcoin Cash and Bitcoin SV. Although when sorted by market cap, Dash is at the 15th place now whereas Bitcoin Cash is at number 6th and Bitcoin SV is at number 10.
Data from CoinMetrics shows that during the period between November 28th and January 28th, on 65.5% of the days Dash had higher network transactions than Bitcoin Cash. The number when it comes to Bitcoin SV is even higher with Dash being ahead on 88.7% of the days. BSV was lower on almost all the days except for the days with a sudden spike, likely due to examination and stress tests.
The difference between the 3 chains is much more than just the transactions volume. The average transactions values for both BCH and BSV are often 10 times higher than dash. The median transaction value of Dash remains consistently low, where on the other had both BSV and BCH fluctuate a lot.
As Dash’s own Joël Valenzuela puts it:
“Low average values suggest the daily transfer of value on the network is distributed among more transactions rather than fewer, and a low median value suggests that a typical transaction is a small purchase, with fluctuations between higher and extremely low median values suggesting intermittent bursts of activity from microtransactions or stress tests throwing off typically higher transaction values. A large disparity between average and median values suggests a combination of very small and very large transactions, rather than a more uniform range.”
This, in essence, shows that Dash has been used for small purchases regularly while Bitcoin Cash and Bitcoin SV transactions are for larger purchases and value transfer. The hard fork might have had a part to play in the falling of daily transactions as when one sees BCH’s data before the event it is constantly way higher than that of Dash.