Bitcoin’s transaction volume in 2017 exploded to $260 million per day or $180,000 per minute, according to the latest statistics. The figures, which are currently circulating through the community on social media, show sustained solid growth in use year on year.
The Bit Coiner posted on Twitter:
“Bitcoin transactional volume in 2017 has been $260 million per day, $180 thousands per minute. Up 55 %.”
sisse 2016, widely considered to be a breakout year for Bitcoin, volumes grew by 118 % during the previous year period. At the same time, citing Chain product architect Oleg Andreev, cryptocurrency investor Trace Mayer noted that Bitcoin moves the equivalent of 45 tons of physical gold every day but with a fee rate of less than 0.01 %.
Trace Mayer posted on Twitter:
“#Bitcoin moves equivalent of 45 tons of physical $gold every day for less than 0.01% in fees. Lots of $BTC price upside still available!”
Comments published by Trace Mayer, received mixed reactions, as Oleg Andreev himself described the statistics as trolling a bit.
Nonetheless, Bitcoin’s upward trajectory is giving optimism to investors. While many expect the next watershed moment to be the yes or no verdict on the first Bitcoin ETF, cryptocurrency commentators are at odds with analysts over the likely outcome. Meanwhile, an Emerita Capital analyst most recently stated that a positive decision would send the Bitcoin price surging by around 65 % of its current value.