Src: iStock
In 2024, the Bitcoin network processed approximately $19 trillion in transactions marking a remarkable increase in its transaction volume.
This increase is attributed to various factors, including the rise of Bitcoin ETFs and growing interest in tokenizing real-world assets.
The transaction volume of the network has consistently shown robust growth, reflecting expanding role of Bitcoin in the financial ecosystem.
In the year 2023, the transaction volume was around $10 trillion. Year 2022 saw approximately $6 trillion in transactions.
The significant increase in Bitcoin transactions in 2024 can be attributed to multiple key factors. The rise of online shopping has driven demand for digital payments with higher percentage of e-commerce transactions completed using crypto like Bitcoin.
More people are using digital currencies as a result of the global trend toward cashless transactions, which has increased the allure of Bitcoin as a payment option.
Improvements in smartphone usage and internet connectivity have facilitated easier access to Bitcoin and other digital payment platforms.
The rise of digital wallets and fintech solutions has made it easier for consumers and businesses to transact using Bitcoin, further boosting its transaction volume.
It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)
Posted Using InLeo Alpha