BTC transactions are growing each day rapidly. With its current record, it beats all the other payment systems like that of Visa and Mastercard.
The latest data shows that the world’s leading digital asset has settled over $30 billion worth of BTC transactions in a single day. Is BTC close to hitting its ATH price soon?
Although there is a drop in the figures of the network’s settlement to around $12 billion now, it doesn’t nullify the fact that the Bitcoin network has seen a 40x growth in its settlement value compared to the last year. The previous year its settlement value was well below $10 billion.
BTC specialist Kevin Rooke tweeted recently:
“$31 billion. That’s how much value was settled on the Bitcoin blockchain in a single day this week. It’s a new all-time high for Bitcoin and a 40x jump in settlement value since 2020 began. “
With the increase of mainstream and institutional adoption, BTC has become significantly mainstream. Another popular crypto analyst, Willy Woo, talked about Bitcoin’s growth in his latest tweet:
“Money moving on Bitcoin’s blockchain is back near all time highs. It’s presently doing ~$190k per second. Compare this to $130k per second by Visa for US customers and $55k per second for Mastercard. Lightning Network not included.”
With the world becoming more digital, more people are moving towards digital assets like Bitcoin. A recent report from Capgemini said that “e-money payments will account for more than 25% of global transactions” by 2025.
It is safe to say that Ethereum, Bitcoin, and other cryptos will play an increased part in the financial economy in the coming years. As a result, BTC transactions will keep getting bigger.