67% of bitcoin transactions are not related to purchases

The Elementus Inc. analytical company decided to find out what kind of operations the BTC transactions are connected with. It turned out that only 33% of them are used for purchasing goods, work or services.

Digital coins are almost not used as currency. But the growing interest of investors is gradually turning them into a speculative tool. As a result, two thirds of all transactions in the bitcoin network are accounted for by pools, speculation and fraud.

In general, the main indicator for digital coins is the ratio of the cost of the network to transactions (NVT). But actually such an indicator does not give an objective assessment without additional analysis.

NVT in the Cardano network is higher than in bitcoin, but according to Elementus, only 2% of them have an economic value. Digital gold has a consistently high rate, but even this rate is far from the level of the payment facility.

But the statistics of online stores proves the opposite. The management of Overstock.com, one of the first online stores that started working with virtual currency, noticed that crypto currency transactions amount to $ 68–120 thousand per week.

So the statistics is gradually going up. And the systems offered by Coinbase Merchant and Square, contribute to it a lot.

The turnover of bitcoin and altcoins is related directly to their estimated value. Therefore, further growth of this indicator will contribute to the appreciation of the exchange rate and the internal value.