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Transaction Value Stats Suggest Dash, Bitcoin Cash, Doge Used Most for Small Payments

Transaction values for top cryptocurrencies show Dash, as well as Bitcoin Cash and Dogecoin, used most frequently in small transactions, which could indicate real-world use as money.

Data from BitInfoCharts of several major cryptocurrencies shows statistics and trends that can be used to infer the nature of economic activity across the networks. The networks sampled were Bitcoin, Bitcoin Cash, Litecoin, Dash, Zcash, and Dogecoin. These were chosen based on availability of data and on a purpose for use as money (Ethereum’s extremely low median transaction value indicates non-monetary purposes such as smart contracts). Monero was excluded due to the unavailability of public network data, and Dogecoin was included due to its historical significance and persistently high network use.

Median transaction values use the middle value of a data set (example: 1, 1, 3, 12, 84 would give a median of 3) to infer what could be considered a “typical” amount. This is weighted towards the greater number of transactions rather than a significantly higher or lower value of just a few transactions. The most recent statistics show Dash as the lowest with a median transaction value of $16.30, followed by Dogecoin at $17.82. Bitcoin Cash and Litecoin are in the next lowest category with $35.50 and $84.64 respectively, while Bitcoin and Zcash are the highest with $297.38 and $406.79 respectively. Median transaction values across the board were far higher during the December/January period, however Dash’s value has fallen significantly, from the middle of the pack to a mere fraction of most competitors, while Zcash’s has actually increased where it used to be significantly lower than Dash.

Average values diverge from median with BCH and Dogecoin showing huge spikes

Average transaction values, on the other hand, tell a different story. Averages are computed by adding together all values in a set and dividing by the number of values in that set (exampl...

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