- CoinMetrics information reveals the Bitcoin blockchain registered over $8 trillion value of transfers in 2022.
- In accordance with the info, the entire quantity transferred through the blockchain fell off within the second half of the 12 months.
- Bitcoin additionally noticed a rise in blockchain dimension and hashrate, with 16% and 56% annual development charges respectively.
Bitcoin continues to fluctuate under $17,000 because the cryptocurrency market enters 2023 on the again of constant uncertainty after a brutal 2022.
However whereas costs fell massively all year long to see Bitcoin commerce practically 60% down over the previous 12 months, information reveals the flagship cryptocurrency nonetheless noticed respectable on-chain worth switch.
Over $8 trillion transferred through Bitcoin blockchain
In accordance with information lately shared by crypto and blockchain analytics platform CoinMetrics, 2022 noticed over $8.2 trillion value of worth transferred through the Bitcoin blockchain. The transactions amounted to worth value $260,000 per second transferred on the community.
James Lopp, the co-founder and CTO of crypto custody startup Casa, shared the statistic on Twitter.
— Jameson Lopp (@lopp) January 1, 2023
Per the info, probably the most worth was transferred within the first half of the 12 months, with the most important chunk of those seen in March to early Might. The bear market and the contagion that adopted the demise of Terra Luna and a number of other crypto-focused firms marked the start of a downturn that endured all year long.
Blockchain grew 16%, hashrate 56%
In the meantime, the Bitcoin blockchain dimension elevated from 383.3 GB to 446 GB, exhibiting an annual development price of roughly 16.4%.
The community hashrate additionally elevated regardless of the bear market crash that pushed a number of miners into chapter 11. Knowledge on complete community hashrate development for 2022 confirmed a 56% soar, from 175 exahashes per second (EH/s) to 274 EH/s.