Bitcoin cumulative transfer volume exceeds $100 trillion milestone

Bitcoin’s cumulative transportation measurement (CTV) exceeded $100 trillion successful caller weeks, coming successful astatine $105 trillion astatine present, according to Glassnode data.

CTV refers to the accrued monetary worth of transactions settled connected a peculiar network. As a measurement of activity, it tin beryllium utilized to gauge adoption and pinpoint adoption trends.

Bitcoin cumulative transportation measurement streets up of the rest

The illustration beneath shows the CTVs of Bitcoin, Ethereum and Litecoin connected idiosyncratic logarithmic scales. Ethereum and Litecoin’s CTVs magnitude to $6.1 trillion and $3.7 trillion, respectively — some smaller than Bitcoin’s by orders of magnitude.

Interestingly, Litecoin’s CTV noticeably accelerated successful 2022, arsenic denoted by its typical enactment moving person to a vertical position.

Source: Glassnode.com

The CTVs of each 3 tokens amusement a grade of likeness, from the azygous uptick from the commencement of 2018, starring to a gradual uptrend until the opening of 2021, followed by a crisp enlargement crossed the board.

Post-2021, the 3 tokens converge astatine assorted points with 1 another. However, the comparative alteration of Litecoin sees it transcend Ethereum and Bitcoin successful caller weeks.

Commenting connected Bitcoin’s CTV, Will Clemente said reaching the $105 trillion milestone was a “tremendous feat” and showed however galore millions “have utilized Bitcoin arsenic a planetary colony network.”

Criticisms

As CTV is calculated utilizing the token terms astatine the clip of transfer, the interaction of question connected the illustration is importantly greater during bull cycles compared to carnivore cycles. This terms discrepancy arguably distorts the existent measurement of adoption.

Similarly, the CTV does not separate betwixt measurement relating to existent colony successful speech for goods and services and interior transfers and different specified trading oregon speculative reasons to determination tokens.

The station Bitcoin cumulative transportation measurement exceeds $100 trillion milestone appeared archetypal connected CryptoSlate.