Average Transactions Per Block

Since blocks are mined roughly every 10 minutes and have a size limit, this graph shows how many individual transfers are being squeezed into that fixed space. When the graph hits a "ceiling", it signals that the network is full, often leading to higher fees. A long-term upward trend generally indicates technological upgrades (such as SegWit) that allow the network to fit more transactions into the same "box".
However, a drop in this number doesn't always mean fewer people are using Bitcoin. It often indicates that exchanges (for example Coinbase) are "batching" thousands of payments into a single transaction to save space, or that users are filling blocks with large data files (like Ordinals/images) rather than standard currency transfers. Therefore, the graph is less about total user count and more about how efficiently block space is being utilized at any given moment. [9]