Bitcoin daily transaction volume set new record
Investor Kevin Rook pointed out that the total value of transactions per day on the Bitcoin network has reached a record high of $31 billion.
$31 billion.— Kevin Rooke (@kerooke) October 10, 2021
That's how much value was settled on the Bitcoin blockchain in a single day this week.
It's a new all-time high for Bitcoin, and a 40x jump in settlement value since 2020 began.
Since the beginning of the year, the indicator has grown 40 times. The expert emphasized that these are not exchange volume, but on-chain Bitcoin settlement volume.
Analyst Willy Woo also noted that the Bitcoin's blockchain processes about $190,000 per second, compared to $130,000 for Visa for US customers and $55,000 for Mastercard.
Money moving on Bitcoin's blockchain is back near all time highs.— Willy Woo (@woonomic) October 9, 2021
It's presently doing ~$190k per second. Compare this to $130k per second by Visa for US customers and $55k per second for Mastercard.
Lightning Network not included. pic.twitter.com/J3Baop3LXE
Journalist Colin Wu drew attention to the fact that the share of transactions worth more than $10 million reached 70% in the past month according to the data from Glassnode. This is also a record figure.