A recent report by CME Group and Glassnode indicates that Bitcoin’s daily payment volume of $46.4 billion has outpaced Visa and Mastercard. The report highlights a bullish market trend and a surge in capital influx into the Bitcoin market in 2024.
A recent report by CME Group, in collaboration with crypto analytics platform Glassnode, reveals that Bitcoin boasts a daily payment volume of $46.4 billion, rivaling traditional payment processors such as Visa and Mastercard. The report, entitled “Digital Assets: Insights and Market Trends,” highlights data up to May 31, 2024, showing a bullish market trend for Bitcoin, which has risen by 370% since January 2023.
The unfiltered on-chain volume of Bitcoin has reached up to $46.4 billion per day, surpassing Visa’s daily volume of $38.98 billion and Mastercard’s $24.78 billion. However, when adjusted for in-house transfers from major exchanges like Binance and Coinbase, the filtered economical transfer volume for Bitcoin stands at $6.5 billion per day.
Additionally, the report notes a significant capital influx into the Bitcoin market in the first half of 2024, largely driven by the success of spot Bitcoin ETFs in the United States, which have attracted $16.5 billion in net inflows since January.
