News
Bitcoin surpasses Visa and Mastercard in transaction volume!
1:00 p.m. ▪ 3 min read ▪ by Luc Jose A.
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 development in the era of digital payments. This exceptional performance reflects the rise of cryptocurrencies and their increasing integration into the global economy, challenging the very foundations of traditional payment systems.
Bitcoin: an impressive transaction volume
BTC is definitely on the rise! According to recent data from Glass nodeBitcoin recorded a daily trading volume of $46.4 billion. In comparison, the crypto’s filtered economic volume stands at $6.5 billion. This dramatic increase in trading volume comes after a rapid market recovery. Bitcoin’s current market cap 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 transactions, peaking at 529,056 transactions recorded on July 16. This growth is partly due to the launch of the Runes protocol in April, which boosted activity on the blockchain. Last May, the Bitcoin network celebrated its billionth transaction, highlighting the continued rise in adoption.
Stablecoins in competition
Alongside Bitcoin’s rise, 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 greater than Visa’s.
Tether, with a market cap of $113 billion, continues to dominate the stablecoin space. This leadership position is being challenged by emerging players like Ripple, which are trying to gain a foothold in an increasingly crowded market. The proliferation of stablecoins and their growing adoption reflect an ongoing transformation in the digital payments space.
The increase in Bitcoin and stablecoin transaction volumes could have profound implications for the future of payment systems. As cryptocurrencies 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 transaction cost structures to a reconfiguration of current business models.
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Luc José A.
A graduate of 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 am committed to raising awareness and informing the general public about this constantly 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 current events, decipher market trends, relay the latest technological innovations and put into perspective the economic and societal challenges of this ongoing revolution.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.