In 2024, the Bitcoin blockchain processed $19 trillion in transactions

$SOL $AERGO $XLM Pierre Rochard, vice president of cryptocurrency mining company Riot Platforms, reported that in 2024, the Bitcoin blockchain processed more than $19 trillion in transactions.

Compared to 2023, the value of sent BTC increased by 121%. Thanks to this, the negative trend associated with a decrease in the volume of transfers, which was observed between 2022 and 2023, was interrupted. According to Rochard, these statistics indicate that Bitcoin is not only a tool for saving capital, but also a means of exchange.

Change in the amount of transactions in the Bitcoin network

However, the progress of the Bitcoin blockchain should be assessed with a grain of salt, because the number of transferred coins, if it increased compared to 2023, then only slightly. The fact is that in 2023, BTC cost no more than $44,000, and last year its price increased to $108,364. Accordingly, the amount of completed transactions increased significantly due to the growth in the value of the cryptocurrency. Obviously, the increase in the amount of transfers in dollar equivalent led to an increase in the income of mining enterprises. Judging by the increase in the computing power of the network, which reached a historical maximum of 1000 exahash per second on January 3, 2025, enterprises mining digital assets spent part of the revenue on the purchase of new equipment. However, this did not play into the hands of blockchain users, because the average commission for confirming transfers remained high and sometimes amounted to $8.36. #BitcoinHashRateSurg #Binance250Million #BitcoinTurns16