Miners Have Produced 800,000 Blocks on the Bitcoin Community

• On-chain analyst highlighted a number of milestones achieved by Bitcoin since its creation.
• Checkmate’s evaluation covers the entire variety of blocks mined on the Bitcoin community.
• Based on Checkmate, miners have produced 800,000 blocks on the Bitcoin community.

Glassnode’s lead on-chain analyst has highlighted a number of milestones achieved by Bitcoin. since its creation over fourteen years in the past. The analyst, posting on Twitter underneath the username Checkmate, shared the entire variety of blocks mined on the Bitcoin community since its inception, amongst different statistics in regards to the pioneer cryptocurrency.

Based on Checkmate, miners have produced 800,000 blocks on the Bitcoin community, amounting to the mining of 19.437 million bitcoins. Additionally, Checkmate famous that since Bitcoin’s launch, 268,700 bitcoins have been paid as charges to miners on the community. Utilizing Bitcoin’s present worth, Checkmate estimated the all-time Bitcoin miner income is value $52.593 billion. That displays a median of $65,700 paid per block, over the 800,000 mined blocks.

Checkmate highlighted that of the 19.437 million bitcoins mined through the years, practically 1.457 million bitcoins haven’t been spent. That’s equal to about 7.5% of the entire bitcoins mined. The on-chain analyst believes this set of bitcoins might be misplaced and should by no means be recovered. Checkmate additionally famous that 14.505 million bitcoins, equal to 74.6% of the entire Bitcoins, are held off exchanges by long-term holders. Quick-term holders saved 2.68 million bitcoins, whereas exchanges saved 2.25 million bitcoins.

One other Bitcoin stat highlighted by Checkmate is the Bitcoin Unspent Transactions (UTXO). He famous that Bitcoin’s UTXO incorporates 163.6 million UTXOs. Through the years, 2.439 billion UTXOs have been created on the Bitcoin community, with 2.275 billion already spent or destroyed.

Checkmate defined that the creation and destruction of UTXOs accompany the switch of Bitcoin volumes. Therefore, over 8.378 billion bitcoins have been transferred throughout the 800,000 created Bitcoin blocks. That equates to a median of 10,473 bitcoins spent per block. In US Greenback phrases, Checkmate famous that the Bitcoin community settled transactions value $109 trillion, equating to a median of $137 million per block.