Bitcoin transaction value reaches highest annual value of $25 billion

On May 28, Bitcoin owners moved a whopping 367,000 BTC worth $25 billion. An annual high for the cryptocurrency.

On May 28 Bitcoin-owners as much as 367,000 BTC on the blockchain, representing a new annual high in transaction value. On-chain transaction value refers to the estimated total value of transactions on the Bitcoin blockchain.

According to data from Blockchain.com this is the highest value since June 13, 2022, when the BTC price was only $26,500 and more than 519,000 BTC were moved.

Meanwhile, the number of transactions remained relatively normal. On May 28, the BTC transaction tracker recorded YCharts a total of 596,790 Bitcoin transactions.

The trade volume of Bitcoin was also not unusually high, as the volume of BTC transactions on exchange the same day totaled about $200 million.

In this article on buyers of Bitcoin ETFs, you can find out if institutional investors could soon create a new ETF hype with significant price increases.

At press time, Bitcoin is trading at $68,920, down 1.08 percent over the past 24 hours. So BTC's high transaction value does not seem to have a major impact on the price for now.