Bitcoin’s Economic Impact Soars to $3.2 Trillion in 2024
06.02.2025 19:00 2 min. read Alexander Stefanov SHARE: 0 SHARES Bitcoin has experienced a significant surge in user engagement throughout 2024, with on-chain data revealing a remarkable $8.7 billion in average daily transaction volume. According to analytics firm Glassnode, this increase reflects growing economic activity within the Bitcoin network. Using Glassnode’s entity-adjusted data to remove non-economic transfers, we find that #Bitcoin settled an avg. of $8.7B/day over the last year, totaling $3.2T in true economic activity, showcasing $BTC‘s role as a medium of exchange at scale: https://t.co/EtA70EXQ9A pic.twitter.com/6jTwpXqXMU — glassnode (@glassnode) February 5, 2025 The firm examined Bitcoin’s “Transfer Volume,” a metric tracking the total amount of BTC being transferred across the blockchain. Specifically, Glassnode looked at the entity-adjusted Transfer Volume, which excludes internal wallet transfers within the same investor’s cluster, focusing only on transactions between distinct entities. This provides a clearer picture of actual economic movement on the network, as transfers between a single investor’s wallets don’t contribute meaningfully to the market. Throughout the year, the Transfer Volume saw a noticeable spike, especially during Bitcoin’s price rally above $100,000 in late 2024. While the value of the metric has since leveled off, the overall increase in activity signals a rise in Bitcoin’s role in large-scale financial transactions, with a total of $3.2 trillion in economic transactions processed this year alone. Additionally, the Realized Cap, a measure of Bitcoin’s true market value, has also grown significantly during this period, indicating an increase in the capital invested by Bitcoin holders. This model calculates the value of Bitcoin based on the price at which it was last traded, offering a deeper insight into the capital behind the cryptocurrency’s growth. SHARE: 0 SHARES More Bitcoin News Arthur Hayes Warns Against U.S. Bitcoin Reserve, Citing Political Risks A prominent crypto industry figure has raised concerns about the idea of a U.S. Bitcoin reserve, arguing that it could be more detrimental than beneficial. 06.02.2025 21:00 2 min. read Kosta Gushterov New Mexico Proposes Bitcoin Reserve Bill, Joining Growing Trend Among U.S. States New Mexico is stepping into the world of cryptocurrency with a groundbreaking move that could pave the way for more states to adopt Bitcoin as a reserve asset. 06.02.2025 17:30 2 min. read Alexander Zdravkov Rebranded MicroStrategy Acquires 218,887 BTC in Q4 2024 In a bold move, the company, formerly known as MicroStrategy, has made its largest Bitcoin purchase yet, acquiring a staggering 218,887 BTC in the last quarter of 2024. 06.02.2025 15:30 2 min. read Alexander Zdravkov Bitcoin Could Crash Significantly If It Fails to Hold Critical Support A well-known crypto analyst has raised concerns about Bitcoin’s stability, warning that a major drop could be on the horizon if the asset fails to maintain a crucial support level. 06.02.2025 14:30 1 min. read Alexander Zdravkov QR for the Bitcoin/Ethereum Address: QR for the Bitcoin/Ethereum Address: