CandleFocus Glassnode Report Reveals $131 Trillion Bitcoin Transfer Volume and Institutional Expansion
2024-12-13
Author: Content Editor
The cryptocurrency Bitcoin has reached a historic milestone of $100,000 per coin, according to a report by Glassnode. This marks a significant moment for Bitcoin, which has also seen over $131 trillion in transaction volume and a market capitalization of $2 trillion. The report highlights the journey of Bitcoin since its inception, including the processing of 1.12 billion transactions and the mining of 94.2% of its maximum supply. The market cycles of Bitcoin have shown both positive and negative monthly price movements, showcasing its volatility. The report also reveals a diverse distribution of Bitcoin holdings, with wallets, exchanges, ETFs, miners, and the U.S. Government holding significant portions. The increasing involvement of institutions and the U.S. Treasury's holdings reflect a gradual centralization of Bitcoin custody. Despite challenges and debates surrounding regulation and decentralization, Glassnode suggests that Bitcoin is poised for further growth and influence in the global financial ecosystem.
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