Explanation

Transaction Value is to a crypto analyst what sales/revenue/turnover is to an equity analyst. Transactions take place for different reasons; some are speculative and generally take place over crypto exchanges or via brokers, while other transactions take place between parties for economic reasons, such as buying goods and services. Transaction value combines all transferred value over the blockchain.

Unlike traditional exchanges, blockchains run 24/7 and trading can occur at any time. But even so, blockchain transaction activity peaks during the week and falls off during the weekend. Transaction value drops at weekends because most businesses and professional traders work on weekdays. At ByteTree, we have named this pattern the 'Weekday Bias (opens new window). You will notice most metrics on our site are measured in periods divisible by whole weeks, ensuring we are comparing "apples with apples" when looking at trends. By using multiples of weeks, the weekday bias is ironed out and so real-time changes in the data reflect growing or contracting transaction value.