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Interesting Conclusion Can Be Drawn from the December Performance of Bitcoin
The December monthly performance of Bitcoin has revealed some intriguing insights, as the data shows that despite a slight decline in the number of transactions, the total value of these transactions reached an all-time high.
On December 5th, a record-breaking transaction worth $144.1 billion was processed on the blockchain, marking the highest daily value ever recorded. The total transaction volume for the entire month also reached a new peak, with over $2.25 trillion in transactions, exceeding even the previous year’s records.
However, it is crucial to note that these figures are still lower than those seen in earlier years. For instance, November 2021 saw an astonishing $8.23 trillion in transactions for a single month. To put this into perspective, the estimated total transaction value for the entire 2024 was a staggering $19.02 trillion.
On a closer inspection of the data, we can see that there is a noticeable shift towards fewer but larger transactions on the Bitcoin network. This trend suggests that the primary use case for Bitcoin has shifted from smaller transactions to larger-scale financial movements. The platform appears to be focusing more on storing value and facilitating large monetary flows, rather than its original purpose of enabling fast and cheap peer-to-peer transactions.
It is essential to consider these findings in light of the current market conditions.
Source: http://www.bitcoinbazis.hu
