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

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

Friday August 12, 2022 ▪ 7:00 pm ▪

min read – with

The Bitcoin network has just proven once again that it is efficient when it comes to setting value. Today, we reported quite favorable statistics for the queen of cryptocurrencies. In fact, $62 trillion has been recorded in transaction value on the network in a single year.

$62 trillion worth of bitcoin settlements

Yesterday, Bitcoin Magazine’s official account posted this message on Twitter:

The Bitcoin network has settled more than 62 trillion BTC in the past 12 months. »

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

In the last 12 months, the network has settled $62 trillion worth of #BTC, which is 3 times the GDP of the United States. »

Will this prove that everything seems to be going well for bitcoin? In a way, yes. Moreover, BTC seems to be recovering from its fall at the moment. Just yesterday, he offered himself another $1,000 after recently hovering around $23,000.

At the time of writing, Coingecko is showing a price of $23,856.18.

Other important numbers

Last November, Nasdaq released figures regarding the settlement of securities on the Bitcoin network. At the time, the $60 trillion threshold crossed was an achievement since the advent of bitcoin. To say that around 70% of the total value transferred on the same network belonged to settlements, just for the year 2021.

At this point, some experts estimated that the total amount of the transfer for 2021 could reach $45 trillion.

In October 2021, Cointelegraph reported that it reached a record settlement amount of $30 billion on the Bitcoin network in a single day. There must have been a real change at the network level.

On-chain analyst Willy Woo said the transaction value of the Bitcoin blockchain is surpassing centralized payment networks such as Visa and MasterCard. And if we take yesterday’s figures into account, many of the penniless will resort to other arguments to silence their egos.

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