Glassnode: By 2024, Bitcoin's transaction volume will increase to $3.2 trillion, with a daily average transaction volume of $87 billion

According to a report by Glassnode, Bitcoin user participation significantly increased in 2024, with on-chain data showing that its average daily transaction volume reached $8.7 billion, reflecting the growing economic activity within the Bitcoin network. The company studied Bitcoin's "Transfer Volume", an indicator tracking the total amount of BTC transferred on the blockchain. Specifically, Glassnode examined transfer volumes adjusted for entities and excluded internal wallet transfers within the same investor cluster, focusing only on transactions between different entities. This can more clearly reflect actual economic trends on the network as transfers between individual investor wallets do not make significant contributions to the market.

During this year, there was a noticeable increase in transfer volume, especially when Bitcoin prices broke through $100k at the end of 2024. Although this indicator has since stabilized, overall growth in trading activity suggests that Bitcoin's role in large-scale financial transactions has risen; it processed $3.2 trillion worth of economic transactions just last year alone. In addition to this, realized market value - which measures bitcoin’s true market value - also saw substantial growth during this period indicating an increase in capital invested by bitcoin holders.