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Friday, January 27, 2023
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    HomeBlockchainBitcoin blockchain saw $8.2 trillion in transfers in 2022

    Bitcoin blockchain saw $8.2 trillion in transfers in 2022

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    • CoinMetrics information exhibits the Bitcoin blockchain registered over $8 trillion value of transfers in 2022.
    • Based on the information, the whole quantity transferred by way of the blockchain fell off within the second half of the yr.
    • Bitcoin additionally noticed a rise in blockchain dimension and hashrate, with 16% and 56% annual development charges respectively.

    Bitcoin continues to fluctuate beneath $17,000 because the cryptocurrency market enters 2023 on the again of continuous uncertainty after a brutal 2022.

    However whereas costs fell massively all year long to see Bitcoin commerce almost 60% down over the previous yr, information exhibits the flagship cryptocurrency nonetheless noticed respectable on-chain worth switch.

    Over $8 trillion transferred by way of Bitcoin blockchain

    Based on information not too long ago shared by crypto and blockchain analytics platform CoinMetrics, 2022 noticed over $8.2 trillion value of worth transferred by way of the Bitcoin blockchain. The transactions amounted to worth value $260,000 per second transferred on the community.

    James Lopp, the co-founder and CTO of crypto custody startup Casa, shared the statistic on Twitter.

    Per the information, essentially the most worth was transferred within the first half of the yr, with the biggest chunk of those seen in March to early Might. The bear market and the contagion that adopted the demise of Terra Luna and several other crypto-focused corporations marked the start of a downturn that endured all year long.

    Blockchain grew 16%, hashrate 56%

    In the meantime, the Bitcoin blockchain dimension elevated from 383.3 GB to 446 GB, exhibiting an annual development fee of roughly 16.4%.

    The community hashrate additionally elevated regardless of the bear market crash that pushed a number of miners into chapter 11. Knowledge on whole community hashrate development for 2022 confirmed a 56% leap, from 175 exahashes per second (EH/s) to 274 EH/s.





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