After Bitcoin reached its 15-month high by breaking the $10,000 mark, a renewed focus on one of its less represented metrics showed that, so far, over $9.2 trillion has been sent using BTC, and the value is quickly increasing with $13 billion in BTC sent each day.
After slicing through the $10,000 resistance level and reaching a trading average of above $12,000, Bitcoin has seen every single one of its metrics skyrocket.
Data from Blockchain.com also shows a steady increase in interest when it comes to Bitcoin, with more and more people searching for Bitcoin and Bitcoin-related terms every day.
There is a metric that seems to be overlooked in many market analyses, and that is the total fiat value sent using Bitcoin.
Over $9.2 trillion has been sent using Bitcoin.
McDowall shared two graphs showing the amount of Bitcoin that has been sent and the total amount of USD sent using Bitcoin since 2017.Over $9.2 trillion has been sent using #bitcoin, with more than $13 billion being sent everyday pic.
While it's obvious that the total USD value of Bitcoin transactions rises in parallel to Bitcoin's price, the actual numbers are rarely discussed.
According to McDowall's graphs, $9.26 trillion has been sent using Bitcoin since Jan. 1, 2017.
Apart from showing that Bitcoin may be gearing up for its biggest rally yet, this also indicates that Bitcoin isn't only being used as a store of value.
The data suggests Bitcoin is also being used for large value transfers, further reaffirming the cryptocurrency's utility.
$9 trillion sent using Bitcoin, reaffirms utility for large wealth transfers
Publicado en Jun 26, 2019
by Cryptoslate | Publicado en Coinage
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