Bitcoin’s cumulative transaction volume hits $125 trillion milestone

exchange68September 10, 2024

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Quick Take

As of Aug. 8, the cumulative sum of on-chain transaction volume for Bitcoin has hit an impressive $125 trillion in FIAT terms, marking a significant milestone in the digital assets’s history. This represents a substantial increase from the $114 trillion recorded at the beginning of the year.

BTC Cumulative Sum Transfer Volume: (Source: Glassnode)

Pierre Rochard, Vice President of Research for Riot Platforms, highlighted this growth on X in a recent tweet, breaking down Bitcoin’s quarterly transaction volumes.

Bitcoin Quarterly Transaction Volume: (Source: Pierre Rochard)

In 2023, Bitcoin saw steady quarterly volumes: $1.8 trillion in Q1, $2.3 trillion in Q2, $2.0 trillion in Q3, and $2.7 trillion in Q4. The upward trend has accelerated in 2024, with Q1 reaching $4.6 trillion and Q2 maintaining robust activity at $4.3 trillion. So far, Bitcoin has processed $8.9 trillion in transactions in 2024, reflecting the growing usage and adoption of the network. This trend illustrates Bitcoin’s expanding role in the global financial system.

Analyst

James Van Straten

Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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