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    January Saw Bitcoins Highest Monthly Volume

    ByFebruary 6, 2024, 5:04 AM1 Mins read42 Views
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    January Saw Bitcoin’s Highest Monthly Volume

    Bitcoin experienced a significant increase in transaction volume, moving $1.21 trillion worth of value on-chain in January 2024, marking the largest amount of value moved since September 2022.

    This move is due to Bitcoin’s record-breaking low active supply and the failure to surpass $1 trillion volume in every month of 2023 except December.

    Traders are eagerly awaiting spot Bitcoin ETF approval, which has led to increased transaction volume. However, long-term Bitcoin holders are reportedly reluctant to part with their coins, as monthly transactions on the Bitcoin network fell between December 2023 and January 2024.

    (With inputs from Shikha Singh)

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