{"id":50956,"date":"2021-10-11T10:07:21","date_gmt":"2021-10-11T07:07:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50956"},"modified":"2025-09-02T21:08:55","modified_gmt":"2025-09-02T18:08:55","slug":"bitcoins-daily-on-chain-value-hits-a-record-high-of-31-billion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoins-daily-on-chain-value-hits-a-record-high-of-31-billion\/","title":{"rendered":"Bitcoin&#8217;s daily on-chain value hits a record high of $31 billion"},"content":{"rendered":"<p>The daily on-chain value transferred on the Bitcoin network reached a record $31 billion, noted by investor Kevin Rooke.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">$31 billion.<\/p>\n<p>That&#8217;s how much value was settled on the Bitcoin blockchain in a single day this week.<\/p>\n<p>It&#8217;s a new all-time high for Bitcoin, and a 40x jump in settlement value since 2020 began.<\/p>\n<p>\ud83d\ude80 <a href=\"https:\/\/t.co\/sLroW28kwg\">pic.twitter.com\/sLroW28kwg<\/a><\/p>\n<p>\u2014 Kevin Rooke (@kerooke) <a href=\"https:\/\/twitter.com\/kerooke\/status\/1447228213588074505?ref_src=twsrc%5Etfw\">October 10, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Since the start of the year the figure has risen fortyfold. The analyst noted that these are not trading volumes, but funds moving on the network.<\/p>\n<p>Analyst Willy Woo noted that the Bitcoin blockchain processes around $190,000 per second, versus $130,000 per second for Visa for US clients and $55,000 per second for Mastercard.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Money moving on Bitcoin&#8217;s blockchain is back near all time highs.<\/p>\n<p>It&#8217;s presently doing ~$190k per second. Compare this to $130k per second by Visa for US customers and $55k per second for Mastercard.<\/p>\n<p>Lightning Network not included. <a href=\"https:\/\/t.co\/J3Baop3LXE\">pic.twitter.com\/J3Baop3LXE<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1446760123062370307?ref_src=twsrc%5Etfw\">October 9, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>According to <a href=\"https:\/\/bitinfocharts.com\/comparison\/transactionvalue-btc.html#1y\">BitinfoCharts<\/a>, since August the average transaction value has surged, peaking at $1.95 million.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/CUtMQNAUZg73JDA9E-a30V_FImkAalMkqCN76ry3KyyEaLLasMTftE20RDcDwR-nE2xo3RJFMe7aGTHBpWgAwN9ZXEXr7GRamzLiHtpyfj6YCYvQ8va3yQiSKBdZifW1juoCZUWB=s0\" alt=\"Bitcoin's daily on-chain value transfers hit a record high.\"\/><figcaption>Source: BitinfoCharts.<\/figcaption><\/figure>\n<p>Colin Wu noted that the share of transactions valued at more than $10 million reached 70% \u2014 a record.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Data from Glassnode shows that in the past month, huge transactions (> $10M) on the Bitcoin chain has grown rapidly, with the highest proportion exceeding 70%, setting a record high. <a href=\"https:\/\/t.co\/RoudvuYGla\">pic.twitter.com\/RoudvuYGla<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1447066819076898820?ref_src=twsrc%5Etfw\">October 10, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>In October, Bitcoin price <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-breaches-the-55000-mark\">surpassed the $55,000<\/a> mark.\u00a0<\/p>\n<p>Two days later the cryptocurrency tested the $56,000 level. JPMorgan analysts attributed the rally in the first cryptocurrency to institutional interest, the growing use of the Lightning Network for micro-payments, and assurances from U.S. authorities that there are no plans to ban digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The daily on-chain value transferred in the Bitcoin network reached a record high of $31 billion. Investor Kevin Rooke drew attention to this.<\/p>\n","protected":false},"author":1,"featured_media":50957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1227],"class_list":["post-50956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-transactions"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50956"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50956\/revisions"}],"predecessor-version":[{"id":50958,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50956\/revisions\/50958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50957"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}