Bitcoin (BTC) moved in near-peak transaction volumes in 2019, keeping up the pace with a more robust transaction count in comparison to previous years. Overall, the value transferred through BTC reached 10 times the amount that Venmo moved in 2018.
Venmo Still Can’t Catch Up with Bitcoin Network Growth
Bitcoin’s network carried more than $673 billion in value, with some stunning episodes of $1 billion single transactions. At one point, three Bitcoin blocks carried $8.9 billion in value in under an hour.
Bitcoin did $673 billion in adjusted on-chain transaction volume in 2019, according to @coinmetrics.
$673,000,000,000 in a single year.
That is 10x what Venmo did in 2018.
It is nearly impossible to deny Bitcoin’s popularity globally.
— Pomp (@APompliano) January 2, 2020
In 2019, BTC established itself not as an everyday means of payment, but as a powerful tool for large-scale wealth transfer. The network also suffered less congestion, leading to easily transferring hundreds of millions per day.
Granted, this fiat value is not…