So, it turns out Bitcoin is busy moving around a staggering $7.3 billion per day in what the experts are calling ‘true’ Transfer Volume. But before you say, “Oh, that’s nice,” let’s see how this stacks up against those quaint, traditional payment processors.
Bitcoin Volume: More Than Just Numbers, It’s an Entire Economy!
In a freshly minted report from the esteemed CME Group and Glassnode (who? just the brilliant minds behind tracking Bitcoin’s every move), we’re introduced to the concept of “Transfer Volume.” No, it’s not a secret Bitcoin party, but rather the total amount of cryptocurrency moving around the blockchain. Exciting, right? Hold on to your hat, because it gets better.
Take a look at this shiny chart, which, for reasons beyond anyone’s understanding, is meant to represent the massive whirlwind of Bitcoin activity:
As you can see (or at least pretend to understand), Bitcoin’s daily Transfer Volume is currently hitting a dizzying $48.7 billion. Now, hold on—don’t jump off your chair yet. That number is not just big; it’s bigger than Visa’s $36.2 billion and Mastercard’s $26.7 billion daily volumes. In other words, Bitcoin is rolling in the dough while Visa and Mastercard are trying to catch up like a couple of elderly turtles on a Sunday stroll.
However, here’s where the plot thickens—this volume includes everything, like transfers between the wallets of the same investor. That’s a bit like saying you’ve sold a car when you’ve just driven it around the block for fun.
So, Glassnode being Glassnode, they’ve fixed this with some “advanced filtering heuristics” (fancy words for “making sense of nonsense”) to weed out all the fluff. And voilà! You get the Entity-Adjusted Volume, which tracks only the transfers between actual separate ‘entities’—aka real people or companies with a serious Bitcoin addiction.
Glassnode’s magic formula now reveals that Bitcoin’s true economic transfer volume is closer to $7.3 billion per day, which, if you’re doing the math, adds up to $2.9 trillion across 2024. Yes, that’s trillion with a “T.” Not bad for a digital currency most people still think is just for buying pizza.
And if you’re wondering, “But what about those poor traditional processors?” Well, this adjusted volume still doesn’t quite match their gargantuan scale, but it’s still mind-boggling. And if that doesn’t impress you, here’s something that will:
Glassnode also gave us a peek at Bitcoin’s “Realized Cap,” which is a fancy way of saying, “Here’s how much people have poured into Bitcoin since they decided to take it seriously.” From $400 billion in November 2022 (when the market hit rock bottom), it’s now a whopping $872 billion. That’s a $472 billion leap, which—let’s face it—could probably pay off a small country or at least buy you a really, really fancy yacht.
And Now, the Price of Bitcoin… Spoiler Alert: It’s Falling
As we all know, Bitcoin prices don’t like to stay still for long. After a brief, unpredictable plunge, it’s now sitting at $101,000—a mere 3% drop in the last day. You know, just casually losing a few thousand dollars like it’s no big deal. But hey, at least it’s still more expensive than most houses, right?
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2025-06-06 11:13