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HomeCrypto NewsAnalysis$30B Daily Moving On Bitcoin Blockchain-BTC Is Doing $190k Per Second Compare To $130k Per Second By Visa For...

$30B Daily Moving On Bitcoin Blockchain-BTC Is Doing $190k Per Second Compare To $130k Per Second By Visa For US Customers

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The daily transaction volume on the bitcoin network has reached a record high of $31 billion.

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Read: President Nayib Bukele Says El Salvador Will Use Some Of The Bitcoin Profits To Fund Pet Hospital



Investor Kevin Rook writes this is a 40x increase in settlement value since 2020. The expert emphasized that these are not trading volumes, but funds transferred on the BTC network.

 

Analyst Willie Wu noted that the first cryptocurrency blockchain processes about $190,000 per second, compared to $130,000 per second by Visa for US customers and $55,000 per second for Mastercard.

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Read: Bloomberg Believes SEC May Approve Four Bitcoin ETFs For The First Time By The End Of October

 

According to BitinfoCharts, Average transaction volume has skyrocketed since August, peaking at $1.95 million.

btc average transaction volume





Journalist Colin Wu drew attention to the fact that the number of transactions worth more than $10 million on BTC has grown rapidly.

 

 

According to JPMorgan, the local rally of the first cryptocurrency was facilitated by the interest of institutions, the growing popularity of the Lightning Network, as well as assurances from the US authorities that they did not intend to ban digital assets.

Read: JP Morgan Report Shows Institutional Investors Are Preferring Bitcoin Over Gold

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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