Better than gold: using Bitcoin transferred almost a trillion dollars this year

According Coinmetrics, about 830 billion dollars in Bitcoins have been displaced since the beginning of 2018. Earlier, analysts saidthat two-thirds of Bitcoin transactions have no economic value. New research from such transactions are eliminated. This writes the Trust Nodes.

How much money can be transferred using bitcoins

Analysts said that he was guided by the most conservative assumptions, in order to avoid interference in the statistical data.

From the point of view of the blockchain all transactions are equally valid. But for the economist it is important to isolate really useful remittances from the empty movement of the coins.

To summarize the data, the experts took the results of the last day of each month, and then multiply them to the number of days in the month. For example, on January 31 was transferred to bitcoins in the amount of $ 7 billion. The estimated number for the entire month — $ 220 billion.

In February the figures dropped to 140 billion, and each month of spring, scored another hundred billion dollars. It is noteworthy that in the summer the cost of the transaction has decreased to $ 70 billion in June/July, and in August and did $ 30 billion.

Ethereum received almost half of the popularity of using cryptocurrencies transferred approximately $ 450 billion. As in the case of Bitcoin, the summer of the Ethereum began to use noticeably less. Most likely, the cause of disappointment in the coin began its rapid decline.

To calculate the exact economic value of the transaction is impossible, so the data can be error of up to 10 percent. In any case, it is clear that the bear market has caused many inexperienced investors to say goodbye to the crypt.

Despite this, the cryptocurrency market is outpacing gold. Information was confirmed by Kevin Hands in his Twitter.


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