In 2024, over $19 trillion in transactions will be processed on the Bitcoin network

In 2024, over $19 trillion in transactions will be made on the Bitcoin network - more than twice the $8.7 trillion processed on the network in 2023. This reverses a two-year decline in transaction volume since 2021.

According to Pierre Rochard, Vice President of Research at Riot Platforms, Bitcoin transaction volume peaked in 2021 during a bull market at around $47 trillion, and sharply declined in 2022 and 2023.

In 2024, Bitcoin (BTC) experienced a landmark year: a Bitcoin ETF was launched in the United States, the price halved in April 2024, and a new all-time high of around $108,000 was reached.