/Bitcoin Is The Worlds Most Efficient Value Settlement Network

Bitcoin Is The Worlds Most Efficient Value Settlement Network

The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

This year has been an impressive one for proving how much value the Bitcoin network can settle and how efficiently it can do so. Over its lifetime, Bitcoin has settled more than $60 trillion in total transfer volume and over $21 trillion in change-adjusted transfer volume.

Nearly 70% of the total value transferred on the network, in USD terms, has come in 2021. Total transfer volume and change-adjusted volume have grown 5.5x and 5.1x from last year, respectively. That doesn’t include the pending December volume for this year either.

On-chain analytics show Bitcoin is the most efficient value settlement network, settling more than $60 trillion in transfer volume to date.

Source: Glassnode

On-chain analytics show Bitcoin is the most efficient value settlement network, settling more than $60 trillion in transfer volume to date.

Bitcoin’s transfer volume in trillions of dollars.

Annualizing the total transfer volume for the year puts Bitcoin on pace to settling nearly $45 trillion in 2021. As a competing monetary network with final settlement, that puts Bitcoin at near 6% of volume as a percentage of the average annual Fedwire volume over the last seven years.

Receive 25% off when you subscribe to the Deep Dive premium bitcoin markets newsletter.
Original Source