September 23, 2023

Bitcoin users completed transactions for $ 673 billion in 2019

In 2019, users transferred $ 673 billion on the Bitcoin network. This is 11% less than in 2018, according to data from the analytical service Coinmetrics.

At the same time, this indicator is 4 times more than the total transaction value from 2009 to 2016, said Larry Chermak of The Block.

If not converted to the USD equivalent, users sent onchain 92 million BTC over the past year.

Coinmetrics excluded transfers between calculationsaddresses belonging to the same user, and other similar transactions that mix the same coins. The service also did not take into account movements in exchange cold wallets.

The volume of transactions in dollar terms on the Ethereum network for the year amounted to only 13% of the bitcoin indicators.

The volume of online transactions closely correlates with the price of bitcoin and trading volumes - the higher the first indicator, the higher the price and volumes.

Recall that over the past 10 years, bitcoin has risen in price by 9,000,000%.