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Segwit adoption tapers off after rapid early growth

Quick Take

  • The share of Segwit transactions has steadily grown to 40% but then stalled in the last five months
  • The likeliest reason is that the benefits of implementing Segwit for large businesses such as Binance and BitMEX simply doesn’t justify the costs
  • This might change in the bull market when businesses have more capital available or when the mempool starts filling up again
The share of Bitcoin transactions that utilize Segregated Witness (Segwit) has steadily grown from August 2017 when it was activated to more than 40% a year later. However, in the past five months, the growth of Segwit adoption appears to have stalled as the share of Segwit transactions stays in the range of 40-50%. Segwit […]

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