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The world of digital finance has just reached a historic milestone. Bitcoin, often considered digital gold, has surpassed Visa and Mastercard in terms of daily transaction volume, marking a major evolution in the era of digital payments. This exceptional performance reflects the rising power of cryptos and their increasing integration into the global economy, challenging the very foundations of traditional payment systems.
Bitcoin: An Impressive Transaction Volume
The BTC is definitely on the rise! According to recent data from Glassnode, Bitcoin recorded a daily transaction volume of $46.4 billion. In comparison, the filtered economic volume of the crypto stands at $6.5 billion. This spectacular increase in transaction volume comes after a rapid market recovery. Bitcoin’s current market capitalization is $1.3 trillion, surpassing the combined value of Visa and Mastercard, which are valued at $556 billion and $418 billion, respectively.
The Bitcoin network has seen a notable increase in the number of transactions, peaking at 529,056 transactions recorded on July 16. This growth is partly explained by the launch of the Runes protocol in April, which has boosted activity on the blockchain. Last May, the Bitcoin network celebrated its billionth transaction, highlighting the continuous rise in its adoption.
Stablecoins in Competition
In parallel with the rise of Bitcoin, stablecoins such as Tether (USDT), Circle (USDC), and Dai (DAI) are also positioning themselves as major players in the digital transaction market. Last April, Nansen revealed that these stablecoins had accumulated monthly transaction volumes higher than those of Visa.
Tether, with a market capitalization of $113 billion, continues to dominate the stablecoin sector. This leading position is contested by emerging players like Ripple, who are trying to make their mark in an increasingly crowded market. The proliferation of stablecoins and their growing adoption reflect an ongoing transformation in the field of digital payments.
The rise in transaction volumes of Bitcoin and stablecoins could have profound implications for the future of payment systems. As cryptos gain credibility and usage, traditional financial institutions may find themselves forced to adapt to this new reality. The implications of these developments are vast, ranging from changes in transactional cost structures to a reconfiguration of current economic models.
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Graduated from Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations, and put the economic and societal issues of this ongoing revolution into perspective.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.