Bitcoin is expected to liquidate $45 trillion in 2021 alone, four times the volume of Visa transactions
Ark’s report, on the Bitcoin (C:BTC) network in 2021 alone, is $45 trillion this year.
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Ark Invest’s crypto analyst Yassine Elmandjra shared a chart showing bitcoin trading volume over the past year, showing that its annual settlement volume is now four times that of global payments giant Visa Inc.
Bitcoin’s liquidation value this year is on track to be twice as high as previous years combined.
Bitcoin annual settlement volume is now 4x that of VISA and 6% of FEDWIRE. PIC.TWITTER.COM/K7NHI2ZRSJ
— YASSINE ELMANDJRA (@YASSINEARK) November 28, 2021
In fact, as Elmandjra pointed out, Bitcoin could be worth twice as much this year as its previous years combined.
Bitcoin has accumulated a total settlement of $60.67 trillion over its lifetime, which means that in 2021 it has accounted for nearly 70% of total transfers.
At the same time, transaction efficiency has steadily improved over the same period.
Last week, an average of $64.47 billion was moved through the Bitcoin network every day.
On-chain analyst Dylan LeClair highlighted that over the past seven days, the Bitcoin network has moved an average of $95,142 in fees of $1.
Over the past 7 days, the #BITCOIN network has moved an average of $95,142 for every $1 in fees.
The median transaction was $751 in value per $1 in fees transferred. # Bitcoin is the most efficient currency settlement network in the world. PIC.TWITTER.COM/DZSWXCDKKD
— Dylan Leclerc
