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Crypto Guide

Bitcoin (BTC): $62 trillion in transaction value!

fri 12 August 2022 ▪ 19:00 ▪

4
min reading – per
Mikaia ANDRIAMAHAZOARIMANANA

The Bitcoin network has just proved once again that it is effective when it comes to value settlement. Today, we reported some rather favorable statistics for the queen of cryptocurrencies. Indeed, $62 trillion has been identified in terms of transaction value on the network in one year.

Bitcoin (BTC), $62 trillion in transaction value

$62 trillion in Bitcoin settlements

Yesterday, the official account of Bitcoin Magazine published this message on Twitter :

« The Bitcoin network has settled more than $62 trillion worth of BTC in the last 12 months. »

This is similar to Pierre Rochard’s tweet, published just before the publication of BM.

« Over the past 12 months, the network has settled a total of $62 trillion in #BTC, which is 3 times more than the GDP of the United States. »

Does this prove that everything seems to be going for the best for bitcoin? Sort of, yes. Moreover, BTC seems to be recovering from its fall at the moment. Just yesterday, he offered himself an additional $1,000 while he had recently stagnated around $23,000.

At the time of writing this article, Quince shows a price at $23,856.18.

Other important figures

Last November, Nasdaq spread out figures regarding the settlement of values on the Bitcoin network. At the time, the $60,000 billion threshold crossed represented the achievements since the advent of bitcoin. To say that about 70% of the total value transferred on the same network concerned settlements, for the year 2021 alone.

At this stage, some experts estimated that the total transfer volume for 2021 could reach $ 45,000 billion.

In October 2021, Cointelegraph reported on the achievement of a record level for the settlement volume of $ 30 billion on the Bitcoin network in one day. This must have marked a real change at the network level.

Willy Woo, on-chain analyst, said that the transaction value of the Bitcoin blockchain is surpassing centralized payment networks like Visa and MasterCard. And if we take into account yesterday’s figures, many of the no-coiners will dig other arguments to silence their ego.

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it

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