₿ Bitcoin's transaction volume exceeded $19 trillion in 2024, and Bitcoin's hash rate reached a record high in early 2025
Bitcoin's performance in 2024 was remarkable, with an annual network settlement transaction volume reaching an astonishing $19.2 trillion. Meanwhile, its total market capitalization soared to $1.9 trillion, surpassing silver's total market capitalization of $1.7 trillion.
To better understand the concept of the $19.2 trillion figure, we can compare it with Visa's transaction volume. Visa's transaction volume in 2024 was $233 billion, while Bitcoin's transaction volume of $19 trillion in 2024 is more than 80 times that, further highlighting Bitcoin's significant advantages in transaction processing capability and development trends.
Bitcoin is favored not only as a store of value asset but also for its multifunctional applications such as P2P transfers, inscriptions, runes, and NFTs, which have led to a broad adoption rate in payment directions. In terms of international remittances, its convenience surpasses traditional banks and wire transfers, with transaction costs being extremely low, sometimes requiring only a fraction of a percent or even lower, significantly better than traditional financial transfers.
Although $19.2 trillion is indeed a massive number, it is still less than half of the Bitcoin network's transaction volume of $47.7 trillion in 2021. This shows that the Bitcoin network's transaction volume in 2021 was more than double that of 2024.
It is worth noting that 2020 was a halving year, with that year's transaction volume being only $6.1 trillion. The year 2024 is also a Bitcoin halving year, and compared to the halving year of 2020, the transaction volume in 2024 has more than tripled. If we follow the trend of transaction volume surging at the end of the year following the 2021 halving, Bitcoin's transaction volume in 2025 is expected to break $100 trillion, which is an exciting prospect from this perspective.
Additionally, Bitcoin's hash rate (computational power) set a new historical high at the beginning of 2025, reaching 1,000 EH/s, signifying that the security of the Bitcoin network has reached an all-time high. With the continuous improvement of computational power, the security of the Bitcoin network has also enhanced, making it one of the safest blockchains in 2025.
What miracles will Bitcoin's excellent transaction volume performance in 2024 and its record-high hash rate create for 2025?
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