Bitcoin (BTC) has completed transactions worth $11 trillion since its inception, a recent compilation of data shows. The value of the network thus grows constantly, with the occasional transfer of as much as $1 billion.
BTC NETWORK GROWS MORE VALUABLE
The Bitcoin network has gone through thick and thin, with transactions both growing in number and in value. Currently, daily transactions fluctuate between $300 million and $1 billion, with some data seeing $10 billion in transfers. Exchanges alone turn over as much as 2.9 million BTC, even without switching addresses.
The activity on the Bitcoin network is usually higher ahead of significant price moves. This time, BTC saw growing transfers just before prices crashed to below the $7,500 level. During that time, exchange turnover was a bit slower, just before the big sell-off. Read More...