Glassnode: Bitcoin trading volume will grow to $3.2 trillion in 2024, with an average daily trading volume of $8.7 billion

Odaily reports that according to a report by glassnode, Bitcoin user engagement saw a significant increase in 2024. On-chain data shows that its average daily trading volume reached $8.7 billion, reflecting growing economic activity within the Bitcoin network. The company researched Bitcoin's "Transfer Volume", which is a metric that tracks the total amount of BTC transferred on the blockchain. Specifically, glassnode studied the entity-adjusted transfer volume, excluding internal wallet transfers within the same investor cluster, and focusing only on transactions between different entities. This can more clearly reflect the actual economic trends on the network, as transfers between individual investor wallets do not contribute significantly to the market. Over the course of the year, the transfer volume saw a noticeable increase, especially around the time when Bitcoin price broke through $100,000 at the end of 2024. Although the metric has since stabilized, the overall growth in transaction activity indicates that Bitcoin's role in large-scale financial transactions has risen, processing $32 trillion in economic transactions just last year alone. Additionally, the realized capitalization, a measure of Bitcoin's true market value, has also seen a significant increase during this period, suggesting an increase in the capital invested by Bitcoin holders.