Bitcoin Transferred More Than $three.2 Trillion in Value Last Year –

Bitcoin Transferred More Than $3.2 Trillion in Value Last Year -

Bitcoin’s (BTC) layer 1 transaction quantity in 2018 was $three.2 trillionFurthermore, over $2.2 trillionof Bitcoin was traded all through final 12 months – nearly 4 instances greater than the quantity traded in 2017, regardless of the falling costs. 

$three.2 Trillion Transferred Despite Lower Price

Twitter account Satoshi Capital Research (@chartingbitcoin) has shared some statistics of Bitcoin’s efficiency in 2018 in comparison with earlier years.

Accordingly, Bitcoin’s complete traded quantity for 2018 is $2.2 trillion, which is greater than the traded quantity of the Bulgarian Lev (BGN) and proper behind the Chilean Peso. It’s additionally nearly 4 instances the amount traded in 2017, which was $858 billion.

What’s extra, the transferred worth is denominated in USD phrases. Therefore, the declining value of 2018 also needs to be taken under consideration.

Meanwhile, the entire on-chain transaction quantity was $three.2 trillion in 2018, which doesn’t even embody the second layer Lightning Network that shortly grew to greater than 5,200 nodes and over 19,000 channels by the tip of final 12 months.

A Global Currency

Additionally, Bitcoinist just lately reported that Bitcoin transactions have hit a yearly excessive of 325,000 confirmed transactions every day.

Back in 2017, solely about 10 p.c of Bitcoin funds had been made utilizing the Segregated Witness (SegWit) protocol. This quantity has elevated considerably in 2018, as SegWit transactions comprise 40 p.c of all of the transactions carried out on Bitcoin’s community.

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