cryptocurrency

ARK Invest Analyst Reveals Bitcoin Transactions Exceed $100 Trillion

  • The total cumulative activity of the network is approximately $7.3 trillion.
  • The statistic does not cover exchanges between user wallets.

Without a doubt, 2022 was a terrible year for Bitcoin (BTC), and Q2 was the worst for the crypto king. However, interest in cryptocurrencies continues to rise. David BoyleARK Invest, an analyst, claims that Bitcoin transactions have reached more than $100 trillion in total value.

As a guide, Bill used stats from glass. The value of Bitcoin transactions has grown rapidly over the past 13 years, as evidenced by the graph provided by the researcher.

Transfers from one wallet to another between the same users are included in the data published by Glassnode. The $100 trillion level is an “interesting statistic,” Bell notes. In addition, he claims that the total cumulative activity of the network is about $7.3 trillion.

More milestones yet to be achieved

This metric was arrived at by excluding events on the chain that did not show transactions between two parties. Therefore, it does not cover exchanges between user wallets.

All indicators point to a continuous and rapid increase in the popularity of Bitcoin. Moreover, cryptocurrencies have been recognized as a viable asset class by major financial institutions. Banks such as JP Morgan and Goldman Sachs, as well as asset management giants such as BlackRock, have entered the market. In addition, Bitcoin is now included in retirement plans.

Despite the current bear market, Bitcoin has consistently outperformed its previous highs. On the other hand, 2022 was a wake-up call for a lot of people, and it wasn’t like anything they had ever experienced. Regardless, the sector is growing and developing further.

according to CMCThe bitcoin price today is $21,643.02 USD with a 24-hour trading volume of $32,210,057,607 USD. Bitcoin is up 0.87% in the past 24 hours.

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