Home » Bitcoin (BTC) Sees Explosive Trading Volume Surge

Bitcoin (BTC) Sees Explosive Trading Volume Surge

18.07.2024 22:05 1 min. read Alexander Stefanov
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Bitcoin (BTC) Sees Explosive Trading Volume Surge

As traditional finance integrates cryptocurrency through innovations like Bitcoin exchange-traded funds (ETFs) and crypto debit cards, Bitcoin has surged in trading volume, rivalling giants like Visa and Mastercard.

Recently, Bitcoin’s daily trading volume reached $46.4 billion, surpassing Visa’s $38.9 billion and Mastercard’s $24.7 billion as of July 18, 2024.

Despite these milestones, Bitcoin still trails behind assets like gold and the S&P 500, which command daily volumes of approximately $162.6 billion and $253 billion respectively.

Moreover, recent on-chain data from Santiment shows a decline in Bitcoin holders by 672,510 compared to the previous month, indicating cautious sentiment among traders amidst price fluctuations.

While this reduction in holders might suggest uncertainty, metrics from IntoTheBlock reveal sustained growth in long-term Bitcoin holders, reaching an all-time high of 37.67 million in July 2024.

This shift underscores evolving investor behavior and the growing integration of Bitcoin into the global financial landscape.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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