According to Blockchain.com, daily confirmed transactions on the Bitcoin blockchain recently hit 3-month lows in spite of the recent surge in volume. On March 9, confirmed daily transactions totaled 212k, the lowest they’ve been since mid-October when they hit 211.5k per day.





Just ten days earlier, Bitcoin’s blockchain hit yearly highs in confirmed transactions, but it has since dropped more than 40%. That’s the largest dropoff since the crypto bull run at the end of 2017. The highest day from March so far had 299k confirmed transactions, still almost 20% lower than the highest day of transactions in February.





It was after this large drop in confirmed transactions that the Bitcoin blockchain began generating trading volume not seen since January of last year.





With reports accusing exchanges of suspicious trading volume and warning over 75% of exchange volume could be wash traded, one has to wonder: Are people really accumulating Bitcoin, or just being fooled by the exchanges?



