An estimated $830 billion worth of bitcoin has moved so far this year according to our calculations of blockchain data as adjusted by Coinmetrics.
In a statement introducing the new measure, they say:
“From the perspective of the blockchain, all transactions are equally valid – but from the perspective of an analyst or economist, it’s useful to isolate only the meaningful economic transactions, so that’s what we’ve done here.”
They claim to have removed, or at least have attemted to remove, things like “mixers, self-churn, privacy enhancements, spam, and change outputs.”
We thus took the amount transferred on the last day of the month, then timed it by the number of days. So for January that was around $7 billion on the 31st, giving a rounded total of $220 billion for the month.
That continues to fall throughout the year. Just $140 billion is transferred in February, while March, April and May remain somewhat stable at around $100 billion.
That falls in June and July to circa $70 billion, with August giving around $30 billion so far, making a total of circa $800 billion for the year.
Ethereum shares the same story, starting at $120 billion in January. Then halved to $60 billion in February, and halved again to around $30 billion in March.