The data in the chain shows that the activity of users on Bitcoin increased in 2024, and network processing on average $ 8.7 billion a day.
Bitcoin witnessed a huge economic volume in 2024.
In up-to-date post At X, the analytical company in the Glassnode chain discussed the trend in the volume of Bitcoin transfer. “Transfer volume” refers to the indicator here, which measures the total amount of assets, which is involved in some transaction activity in blockchain.
The version of the metric made available by the analytical company is corrected by the unit, which means that it contains only the data of transfers occurring between two separate entities. The “unit” is a cluster of addresses that Glassnode decided to belong to the same investor.
Transfers between the portfolios of the same investor can be relevant from the perspective of miners, but they do not really represent real economic activity. In this way, the volume of the transfer by the unit provides a more right measure of total economic activity that takes place in the BTC network.
Now there is a graph of the indicator made available by the analytical company over the past few years:
The value of the metric appears to have plunged in recent months | Source: Glassnode on X
As you can see in the chart above, the Bitcoin transfer volume increased during price exploration over USD 100,000 at the end of 2024, but its value has cooled.
Nevertheless, the indicator observed a significant jump during the year, which suggests that the activity has increased entirely on the web. Currently, the 365-day moving average (Ma) records are $ 8.7 billion, which is a significant value.
In total, in 2024, investors made economic transactions worth $ 3.2 trillion. The analytical company noticed that it shows this role that BTC has as a huge -scale exchange medium.
In the same thread, X Glassnode also shared how the cryptocurrency cap has grown into this cycle. “Realized capitalization” is a model of the BTC capitalization, which assumes that the “true” value of any token in circulation is equal to the spot price, after which the last transaction on the web.
In low, this model tells us about the amount of capital, which investors used as a whole to buy Bitcoin. Below is the indicator chart.
Looks like the value of the metric has been going up for a while now | Source: Glassnode on X
The chart shows that Bitcoin has realized that CAP is growing in the last few days. “Since the low cycle in November 2022 in the amount of USD 400 billion, it has been realized that CAP consumed the capital of +450 billion USD, currently amounting to ~ USD 850 billion,” notes the analytical company.
BTC price
Bitcoin was unable to maintain the last recovery pressure, because its price returned to USD 98,400.
The price of the coin seems to have bounced up since the crash lows | Source: BTCUSDT on TradingView
A distinguished picture from Dall-E, Glassnode.com, Chart from TradingView.com
