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CDS Crypto News Breaking Crypto News – Bitcoin Transaction Value: A Game-Changer for Crypto Markets

Crypto News

Breaking Crypto News – Bitcoin Transaction Value: A Game-Changer for Crypto Markets

lectertodd03/06/20241 Mins read384

Breaking Crypto News - Bitcoin Transaction Value: A Game-Changer For Crypto Markets

Breaking Crypto News – Understanding the Role of Bitcoin Transaction Value in the Crypto Sector

Breaking Crypto News – The estimated Bitcoin transactions value hit above $25 billion on May 28, marking the greatest level in US dollars over the previous 12 months. On May 28, holders shifted over 367,000 BTC on the blockchain, according to Bitcoin explorer Blockchain.com. Since over 519,000 BTC were moved on June 13, 2022, this represents the biggest number of BTC moved. The financial worth of the transactions was close to $14 billion at the time, when the price of Bitcoin was trading at about $26,500.

Table of Contents

Breaking Crypto News - Understanding The Role Of Bitcoin Transaction Value In The Crypto Sector

Bitcoin Transaction Amount and Volume Did Not Increase

Although the value of transactions reached an annual peak, the quantity of transactions was comparatively typical. 596,790 Bitcoin transactions were made on May 28, according to the Bitcoin transaction tracker Y Charts. Compared to the nearly 850,000 and 700,000 transactions on May 26 and 29, respectively, the volume of transactions seemed average. In addition to the quantity of transactions, there was nothing unusual about the Bitcoin trading volume. $200 million in Bitcoin transactions were made on cryptocurrency exchanges on May 28, according to data from Blockchain.com.

FAQ

What is the Transaction Value in Cryptocurrency?

A transaction is a value transfer made using Bitcoin that is posted to the network and compiled into blocks. Usually, a transaction dedicates all of its input Bitcoin values to new outputs and uses the outputs of earlier transactions as new transaction inputs.

Can Bitcoin Reach $130,000?

Bitcoin might hit $130,000 by 2025, according to trading analyst Peter Brandt’s prediction. Brandt noted on June 2 that the current surge in Bitcoin exhibits characteristics that are reminiscent of earlier post-halving periods. If the cryptocurrency trader’s prediction turns out to be accurate, the asset might rise as high as $130,000 to $150,000 by August or September of next year.

For more up-to-date crypto news, you can follow Crypto Data Space.

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lectertodd

Lectertodd is 28 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.