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Bitcoin’s cumulative transaction volume hits $125 trillion milestone

August 9, 2024Updated:August 9, 2024No Comments1 Min Read
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Bitcoin’s cumulative transaction volume hits 5 trillion milestone
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Fast Take

As of Aug. 8, the cumulative sum of on-chain transaction quantity for Bitcoin has hit a powerful $125 trillion in FIAT phrases, marking a big milestone within the digital belongings’s historical past. This represents a considerable improve from the $114 trillion recorded in the beginning of the yr.

Bitcoin’s cumulative transaction volume hits 5 trillion milestone
BTC Cumulative Sum Switch Quantity: (Supply: Glassnode)

Pierre Rochard, Vice President of Analysis for Riot Platforms, highlighted this development on X in a current tweet, breaking down Bitcoin’s quarterly transaction volumes.

Bitcoin Quarterly Transaction Volume: (Source: Pierre Rochard)
Bitcoin Quarterly Transaction Quantity: (Supply: Pierre Rochard)

In 2023, Bitcoin noticed regular quarterly volumes: $1.8 trillion in Q1, $2.3 trillion in Q2, $2.0 trillion in Q3, and $2.7 trillion in This autumn. The upward pattern has accelerated in 2024, with Q1 reaching $4.6 trillion and Q2 sustaining sturdy exercise at $4.3 trillion. To date, Bitcoin has processed $8.9 trillion in transactions in 2024, reflecting the rising utilization and adoption of the community. This pattern illustrates Bitcoin’s increasing position within the international monetary system.

The submit Bitcoin’s cumulative transaction quantity hits $125 trillion milestone appeared first on CryptoSlate.



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