Quick Take
As of Aug. 8, the cumulative sum of on-chain transaction volume for Bitcoin has hit an impressive $125 trillion in FIAT terms, marking a significant milestone in the digital assets’s history. This represents a substantial increase from the $114 trillion recorded at the beginning of the year.
Pierre Rochard, Vice President of Research for Riot Platforms, highlighted this growth on X in a recent tweet, breaking down Bitcoin’s quarterly transaction volumes.
In 2023, Bitcoin saw steady quarterly volumes: $1.8 trillion in Q1, $2.3 trillion in Q2, $2.0 trillion in Q3, and $2.7 trillion in Q4. The upward trend has accelerated in 2024, with Q1 reaching $4.6 trillion and Q2 maintaining robust activity at $4.3 trillion. So far, Bitcoin has processed $8.9 trillion in transactions in 2024, reflecting the growing usage and adoption of the network. This trend illustrates Bitcoin’s expanding role in the global financial system.
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