The Bitcoin network hit a new milestone on Oct. 6, settling $31 billion in transactional value. The new all-time high caps off an incredible rise in settlement value since the start of the year.
The bitcoin network settled a record $31 billion in a single day on Oct. 6, 2021. This marks a new all-time high for settlement numbers on the network. For some perspective, this represents a 40x jump in settlement value since the start of 2020.
Since then, however, there has been a noticeable drop in settlement value, reaching figures of around $11.6 billion in the days that followed. Still, it marks a strong rise for bitcoin usage since the start of 2020, where the figure was well under $10 billion.