Bitcoin Transaction Value Reaches Annual High of $25 Billion

On May 28th, Bitcoin holders moved a staggering 367,000 BTC, valued at $25 billion, marking a new annual high for the cryptocurrency. This milestone transaction value is a significant indicator of the growing adoption and usage of Bitcoin.

According to data from Blockchain.com, this is the largest transaction value since June 13th, 2022, when the BTC price was around $26,500 and 519,000 BTC were transferred. Interestingly, the number of transactions remained relatively normal, with YCharts reporting 596,790 Bitcoin transactions on the same day.

The trading volume of Bitcoin was also not unusually high, with the volume of BTC transactions on crypto exchanges amounting to around $200 million on the same day.

As the market awaits the potential impact of institutional investors on the price of Bitcoin, it's worth noting that the cryptocurrency is still trading at $68,920, a 1.08% decline over the past 24 hours. The high transaction value appears to have had no significant impact on the price.

Despite short-term fluctuations, Bitcoin remains the best investment due to its long-term potential and growing adoption.

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