BTC Transaction Volume In 2019 Reached $673 Billion

The BTC transaction volume reached a stunning $673 billion in 2019 keeping the pace with the robust transaction count in comparison to the previous year. Overall, the value transferred through BTC reached 10 times the amount that Venmo did in 2018 as we are reading further in the Bitcoin news now.

The bTC transaction volume means that the network carried more than 3 billion in value and there were even some stunning episodes of billion single transactions.
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There were even three Bitcoin blocks that carried $8.9 billion in value in less than an hour.  In 2019, Bitcoin established itself as not quite the ordinary means of payment but as a very powerful tool for large-scale wealth transfer. The network also suffered a lot of congestion and led to easily transferring millions per day. The fiat value was not realized however and it is only based on overall capitalization. The markets have also grown enough to absorb the transaction volume with a bigger degree of volatility.

In comparison, Venmo took over the market for everyday retail transactions and the value transfers were tied to the millennial economic activity. Both of the platforms, however, showed a way out of now-dated slow bank transfers.  In 2019, Venmo continued moving upwards and moved further than $72 billion by the third quarter with the fourth-quarter results are still awaited.  The Bitcoin network achieved this feature while battling significant market pressures with constant skepticism and further regulatory crackdowns. The transfers through Bitcoin have also expanded further most altcoins both for large-scale value transfers and for general usage of crypto.

The increased influence of the Bitcoin network was also established while the corporations and central banks were still in the early stage of exploring and launching digital assets.
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Fintech growth is also not guaranteed to displace the value of crypto-assets and the apps and transfer platforms also faced a lot of reporting requirements and often limitations of the transferred amounts. While sending bitcoins may be scrutinized when dealing with brokers and exchanges, the network is still censorship-free. The BTC transfers cannot be censored and reversed so this adds a store of value to the coin.