Bitcoin’s 2022 Settlements Volume Reaches Nearly $15t Despite Crypto Winter

Bitcoin has been consolidating in the $16,000 to $16,900 area since December 16. While the price of the flagship crypto has declined significantly from its November 2021 all-time high (ATH) of $68,000, BTC’s total transaction volume has increased.

According to analyst Dylan LeClair, the total amount Bitcoin Settlements are set to increase to $14.843 trillion in 2022, up from $13.1 trillion in 2021 to about $1.7 trillion — roughly 275 million BTC. According to data from LeClair, over 556 million BTC were transacted last year.

Additionally, the total asset transfer volume in 2020, 2019 and 2018 was 211 million BTC ($2.3 trillion worth), 256 million BTC ($1.8 trillion worth) and 266 million BTC ($2.1 trillion worth) respectively.

In addition, data from CryptoQuant shows that bitcoin’s market value/real value (MVRV) ratio, which compares the market cap of an asset to its real cap or value, has been consolidating below one since August 2022. when B T c The price started a decline below the $22,000 mark.

CryptoQuant CEO Ki Young Joo Claims Nobody Cares About Bitcoin Anymore:

Data from CryptoQuant shows that bitcoin’s MVRV ratio peaked at 3.98 when BTC hit the $57,000 mark in February 2021. At that time the property was worth four times more.

tomorrow, bitcoin genesis block – The first block mined on the BTC blockchain – turns 14. The block was mined by Satoshi Nakamoto, the creator of bitcoin, on January 3, 2009.

Bitcoin is currently trading at $16,853 with a market cap of $324 billion, up 0.66% over the past 24-hours. Furthermore, the 24-hour trading volume of BTC is $15.8 billion. The coin had gained 31% in the last 24 hours.

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