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Bitcoin Surpasses Visa and Mastercard in Transaction Volume!

Thu 18 Jul 2024 ▪ 3 min read ▪ by Luc Jose A.
Getting informed Invest

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 vs Mastercard et Visa

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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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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.