The Bitcoin network has just proven once again that it is efficient when it comes to value settlement. This day, we reported rather favorable statistics for the queen of cryptocurrencies. In fact, $62 trillion has been recorded in transaction value on the network in one year.
$62 trillion in bitcoin settlements
Yesterday, the official account of Bitcoin Magazine posted this message on Twitter:
” The Bitcoin network has settled over $62 trillion worth of BTC in the past 12 months. »
This is similar to Pierre Rochard’s tweet, published just before the publication of BM.
” In the past 12 months, the network has settled a total of $62 trillion worth of #BTC, which is 3 times the GDP of the United States. »
Does 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, it offered itself an additional $1,000 after lately hovering around $23,000.
At the time of writing this article, Quinceko shows a price of $23,856.18.
Other important numbers
last November, Nasdaq spread figures regarding the settlement of securities on the Bitcoin network. At the time, the $60 trillion threshold crossed represented achievements since the advent of bitcoin. To say that roughly 70% of the total value transferred on the same network was for settlements, just for the year 2021.
At this point, some experts estimated that the total transfer volume for 2021 could reach $45 trillion.
In October 2021, Cointelegraph reported on hitting an all-time high for settlement volume of $30 billion on the Bitcoin network in one day. This must have marked a real change at the network level.
On-chain analyst Willy Woo said the transactional value of the Bitcoin blockchain is overtaking centralized payment networks like Visa and MasterCard. And if we take yesterday’s figures into account, many of the no-coiners will dig into other arguments to silence their ego.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Tremplin.io!