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Bitcoin Network Settlement Transfer Volume Fell to $3 Billion per Day, a Drop of 77%

By Simon LawsonNovember 11, 20221 Min Read
Bitcoin Network Settlement Transfer Volume Fell to $3 Billion per Day, a Drop of 77%
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According to the latest report from blockchain analysis firm Glassnode, the Bitcoin network settlement transfer volume has fallen from a peak of $13 billion per day between January and May 2021 to a cycle low of $3 billion per day, a drop of 77%.

Since the sell-off in May 2021, the presence of young Bitcoin, often synonymous with retail investors, has waned, with $0 to $10,000 traded from $430 billion per day in January 2021 to $220 billion per day currently USD/day, down -49%, can see early signs of stabilization happening in the transfer volumes of these smaller entities.

They tend to respond quickly and early to emerging uptrends, but deals valued above $1 million have formed an inverse structure, with large players seeing continued declines in aggregate volume, again similar to the 2018 bottom , at that time the volume of the large entities was actually quite slow, and there was no steady volume until the bullish trend was finally established.

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