Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Monster5 on October 11, 2021, 02:46:27 PM
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The value settled on the Bitcoin network has been surging recently, reaching a new daily all-time high last week.
Bitcoin’s daily settlement value hit an all-time high on Wednesday, with $31 billion worth of transactions being settled on-chain using the Bitcoin network.
The record high marks an increase in the network’s daily settlement volume of approximately 40 times since the beginning of 2020.
According to data from Coin Metrics, daily settlement volume has since pulled back sharply, with the Bitcoin network settling $11.6 billion worth of transactions on Sunday.
On-chain analyst Willy Woo commented on the uptick in activity and settlement value over the weekend, tweeting that the volume of money moving on Bitcoin’s blockchain currently dwarfs that of major centralized payments networks Visa and Mastercard in the United States. more info (https://cointelegraph.com/news/bitcoin-network-tags-record-high-for-daily-settlement-volume)