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.
