Something big just happened on the Bitcoin blockchain. Crypto analytics firm CoinMetrics noted that $8 trillion worth of transactions have been made on the crypto king blockchain. This means that more and more people are using Bitcoin to transact in their daily lives more than ever.
But does this mean a widespread adoption is already underway?
What Does This Milestone Mean?
The $8 trillion transaction metric might not be so much of a big deal as some would hope. The number was generated over the course of 2022, a period that was strongly bearish against the entire financial system as a whole. A quick look at the charts show that at the start of 2022, Bitcoin has already fallen from its all-time-high back in November of 2021.
Bitcoin blockchain transaction chart for 2022. Source: CoinMetrics
Since then, multiple high-profile bankruptcies and implosions broke out in the latter half of 2022 – from Terra Luna and the UST…
