Bitcoin is still far from the status of macro assets, but is catching up relentlessly, says Coin Metrics’ State of the Network.
“All facets” of Bitcoin (BTC) trading volume are growing exponentially and can easily match major asset classes, says a new report.
Released on June 2, Coin Metrics’ State of the Network casts the spotlight on Bitcoin trading, producing some surprising figures as BTC/USD passes $10,000.
BTC volume growth “exponential” across the board
Measuring volume is difficult with the largest cryptocurrency, Coin Metrics says, given the many types of exchange and associated platforms in the space.
“The fragmentation of trading volume in the Bitcoin ecosystem prevents a straightforward assessment of its market size,” the report concludes.
“Institutions considering entering the space should first survey the landscape and make a determination of which exchanges, markets, and assets they feel comfortable transacting in.”
Nonetheless, the future of Bitcoin as an asset class is extremely promising.
Coin Metrics summarizes that “all facets of Bitcoin’s trading volume have experienced exponential growth and, if sustained, will grow to levels similar to major asset classes.”
Cryptocurrency and fiat trading volumes.