🗓️ In 2021, the transaction volume of four key cryptocurrencies — Bitcoin, Ethereum, USDT, and USDC — reached $2.8 trillion, accounting for about 12% of the total volume of global commodity trade.
📓This data was obtained as a result of a large-scale analysis conducted by experts at the Bank for International Settlements (BIS). The study covered information from 184 countries for the period from the first quarter of 2017 to the second quarter of 2024. Notably, almost half of this volume — approximately $1.2 trillion — was accounted for by transactions with stablecoins, which underlines their importance in the digital asset ecosystem. Although the total transaction volume fell to $1.8 trillion by 2023, growth was noted by the beginning of the second half of 2024, indicating that the crypto market is continuing to develop, albeit unevenly. In the early stages, Bitcoin was the dominant figure in turnover, reaching 80% in Q2 2019. However, by the end of the observation period, its share had decreased to about 25%, giving way to more stable digital assets.
🤔 One of the interesting findings was that digital currencies are much less dependent on geographical boundaries than traditional financial instruments.
🏦 The United States and Great Britain together accounted for about 20% of cross-border transfers in Bitcoin and USDC, as well as almost a third of all transactions in Ethereum.
❓How do you like such a discovery?
