Bitcoin on-chain value transferred reaches $8.89 trillion

Since the creation of the first cryptocurrency, the cumulative value transferred through its blockchain has reached $8.89 trillion. This is stated in ForkLog’s November analytical report.

In this indicator, the total value of “profitable coins” stood at $5.1 trillion, and loss-making coins amounted to $3.79 trillion.

In November, the number of non-zero balance addresses reached a record high of 39.21 million. The previous maximum was reached in April — 38.7 million.

The rise in this metric may indicate an increase in the number of retail cryptocurrency users and overall on-chain activity.

Bitcoin supply on centralized exchanges has fallen to July 2018 levels. Apparently, many market participants are favouring safer non-custodial wallets, focusing on longer-term investment horizons.

Since the beginning of 2021, the Bitcoin network has processed a larger volume of USD-denominated transactions than PayPal.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.