Nic Carter, Willy Woo Spotlight CoinMetrics Data: 35% Of Bitcoin Transactions Are Via Crypto Exchanges

Cryptocurrency exchanges have taken a significant role when it comes to the transition of capital across blockchain networks. One Twitterati, Willy Woo, tweeted that 35% of all on-chain transactions involve cryptocurrency exchange. This means that one out of every three bitcoin transactions involves an exchange.

Woo hypothesizes that there are two reasons for such transaction patterns. First, Bitcoin is purely a speculation vehicle and continues to dominate simply in a trading capacity or the transactions represent the flow of capital into digital assets. Second, bitcoin is becoming a store of value.

Although it is more likely that the activity can be attributed to trading activity, its price stability indicates that it has also become a store of value. Recently, the cryptocurrency reached a low point in volatility.

In any event, the high trading volume on crypto exchanges may continue in the next few months. According to a recent report by Satis Group, an ICO advisory group, the global cryptocurrency trading volume will grow by 50 percent in 2019 and will continue to grow at 9 percent CAGR through 2028.

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Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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