Bitcoin network settlement volume reaches $19 trillion, more than double year-on-year

The amount of transactions settled on the Bitcoin network in 2024 exceeded $19 trillion. The amount of transactions settled on the Bitcoin network last year was the largest amount settled on the network in 2023.
It turned out that the total amount was more than $19 trillion (about 3000 trillion yen), more than double the $8.7 trillion settled in 2019. This is the result of reversing the downward trend in transaction volume since 2021.
Bitcoin trading volume is expected to peak at around $47 trillion during the 2021 bull run, according to data from Pierre Rochard, vice president of research at Riot Platforms.
After reaching a peak of 10,000,000,000, it is expected to fall sharply in 2022 and 2023. Rochard said, "The Bitcoin network will deterministically process over $19 trillion in BTC transactions in 2024.
"We have conclusively proven that Bitcoin can function as a store of value and a medium of exchange," he said. In 2024, Bitcoin is expected to launch a Bitcoin Exchange Traded Fund (ETF) in the United States in January.
F) was introduced, and following the halving in April, the price of Bitcoin hit an all-time high of around $108,000.
The Bitcoin network hash rate will also reach 1,000 on January 3, 2024.
However, the hash rate has since dropped sharply and is currently at around 775 EH/s, according to data from CryptoQuant.
Bitcoin currently has a market capitalization of approximately $1.9 trillion and is expected to surpass silver's market capitalization of $1.6 trillion in 2024.