I appreciate the depth of insight provided by on-chain analytics. Let that sink in.

TL;DR

• Hashrate up ~45% YoY → network security at all-time highs
• BTC price ranged $85k–$125k with heavy volatility
• ~200,000 BTC mined this year (post-halving era)
• Mining increasingly centralized at the pool level
• Fees stayed relatively low despite high activity
• Bitcoin has been profitable 94% of its entire existence

Mining Pool Dominance (53,037 blocks mined)

Top pools by blocks mined (1Y):

• Unknown miners: 52.4%
• AntPool: 18.3%
• ViaBTC: 12.7%
• F2Pool: 10.8%

Top 4 identifiable pools control ~43% of known hashrate

Takeaway:
Hashrate is decentralized geographically, but pool coordination is increasingly concentrated.

Network Security (This Is the Big One)

• Hashrate: ~800M → 1.1–1.2B TH/s
• Difficulty: ~120T → ~160T

That’s a 40–50% hashrate increase in ONE YEAR, after the halving.

Bitcoin has never been harder or more expensive to attack.

Price, Market Cap & Volume

• BTC Price Range: $85k – $125k
• Market Cap: $1.9T – $2.5T
• Daily Exchange Volume: $400M – $1.6B

High volatility, strong liquidity, no signs of demand collapse.

Supply Reality Check

• Circulating BTC: ~19.8M → ~20.0M
• BTC mined (1Y): ~200,000
• Supply mined: ~95.2% of the 21M cap

Less than 1 million BTC remain to be mined… ever.

Blockchain Growth

• Blockchain size: ~640 GB → ~720 GB
• Data added: ~80 GB in one year
• Avg block size: 1.4 – 2.4 MB

Ordinals, inscriptions, and sustained transaction demand are very visible here.

Network Activity

• Transactions/day: 350k – 650k
• Active addresses/day: 500k – 750k
• Median confirmation time: 4 – 16 minutes

Despite heavy usage, the network stayed functional and predictable.

Fees (Surprisingly Calm)

• Fee per TX: $1 – $4
• Total fees/day: 4 – 14 BTC

Even with higher prices and usage, fees did not spiral out of control.

Miner Economics (Post-Halving Reality)

• Block reward: 3.125 BTC
• Blocks/day: ~144
• Daily issuance: ~450 BTC
• Miner revenue: $40M – $70M/day

Miners survived the halving just fine(hashrate proves it).

Valuation Signals

• NVT ratio: 30 – 70
  • Lower = more transaction value relative to market cap
• Bitcoin profitable days:
  • 3,972 profitable days
  • 249 unprofitable days
  • 94.17% of all days profitable

All data is sourced from Blockchain explorer site.