$3.2 Trillion Worth of Payments Done through Bitcoin in 2018

President Washington Bitcoin Dollar

Satoshi Capital Research has shared some of the statistics of Bitcoin’s performance in 2018, showing around $3.2 trillion worth of Bitcoin payments were processed in 2018.

  • In its tweet it has mentioned:
  • Total Bitcoin trading volume: $2.2 trillion
  • Total Layer 1 Bitcoin transaction volume: $3.2 trillion
  • Total change in transaction volume 2017-2018: 8.23% or $0.3 trillion

The total volumes traded in 2018 is almost four times that in 2017, which was $858 million and it is also more than the traded volume of the Bulgarian Lev (BGN) and right behind the Chilean Peso.

The total-on-chain transaction volume in 2018 was $3.2 trillion, which doesn’t include the second layer Lightning Network that grew to more than 5,200 nodes and over 19,000 channels by the end of 2018. The total transactional volume is six times more than the volume sent using PayPal, signifying it as a global payment system and also as a global currency.

The value could have been higher, but the overall declining price in 2018 has lowered the value.

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A Finance Professional and Crypto Enthusiast

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