#BTC Bitcoin transaction value hits yearly high with $25 billion transferred
On May 28, Bitcoin transactions reached an estimated value of more than $25 billion, the highest in US dollars over the past year.
Bitcoin's on-chain transaction value refers to the estimated total value of transactions on the blockchain. This metric helps traders understand Bitcoin (BTC) trends and decide on trading positions.
Bitcoin transaction value hits yearly high
According to Bitcoin explorer Blockchain.com, holders moved about 367,000 BTC on the blockchain on May 28. This is the largest amount of BTC moved since June 13, 2022, when more than 519,000 BTC be moved.
At the time, the price of Bitcoin was hovering around $26,500, putting the USD value of the transactions at nearly $14 billion.
