November 26, 2021

Transactions In Bitcoin Overcome PayPal Throughout 2021

 Bitcoin has surpassed PayPal’s transaction record throughout the year.

In the latest data by Blockdata reveals over 62% of Bitcoin transactions have been conducted, bringing the actual total of $ 489 billion for each quarter of 2021.

Compared to PayPal, the financial services platform only processes $ 302 billion per quarter, surpassed by Mastercard which holds $ 1.8 trillion and Visa which handles $ 3.2 trillion.

Blockdata also highlights several factors that could potentially bring Bitcoin into the world's two largest payment networks- Mastercard and Visa.

It is:

Number of transactions

Average amount of BTC per transaction

Bitcoin price

For now the presence of the Lightning Network plays a role in achieving a large transaction load on the Bitcoin network.

For the record, the Lightning Network has reached its highest capacity in September 2021. At the same time, the network also recorded a number of new nodes and several payment channels.