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.
Bitcoin’s network hashrate has fallen 3.5% since mid-June, marking the sharpest decline in computing power since July 2024.
Bitcoin has officially overtaken Alphabet (Google’s parent company) in global asset rankings, becoming the sixth most valuable asset in the world, according to the latest real-time market data.
Philippe Laffont, the billionaire behind Coatue Management, is beginning to question his stance on Bitcoin.
Personal finance author Robert Kiyosaki is urging investors to rethink their approach to money as digital assets reshape the economic landscape.