Bitrabo Editorial
A recent report by Glassnode showcases the comparison between Bitcoin’s transaction volume and that of traditional payment processors like Visa and Mastercard.
Bitcoin On-Chain Volume at $46.4 Billion Per Day
Glassnode’s analysis indicates that Bitcoin’s on-chain transaction volume is currently at $46.4 billion per day, highlighting the total amount of Bitcoin involved in network transfers.
The provided chart illustrates Bitcoin’s on-chain volume exceeding that of Visa and Mastercard, standing at $46.4 billion per day, compared to $38.9 billion and $24.7 billion, respectively.
It’s important to note that Bitcoin’s volume encompasses various on-chain activities beyond economic transfers.
The report also includes a filtered volume estimation for economy-based transactions, combining spot trade volume and adjusted on-chain volume.
When considering economic transaction volume, Bitcoin ranks lower than Mastercard and Visa, with a combined spot and entity-adjusted volume of $6.5 billion per day.
Additionally, the analysis includes data for Gold and SPX volumes, with both significantly higher at $162.6 billion and $253 billion per day, respectively.
Glassnode’s weekly report highlights the recent drop in the percentage of Bitcoin supply in net unrealized profit to 75% during the recent market correction.
Bitcoin Price Update
As of the latest data, Bitcoin is trading at approximately $65,200, reflecting a 13% increase over the past week.