Bitcoin saw a record amount of cryptocurrency transferred through its network this week – more than two thirds more than it experienced during the price run that took it to an all-time high back in April.
More than $188 billion worth of bitcoin was transferred on Tuesday, according to figures from blockchain data firm Glassnode, amid a buying frenzy that took its value above $50,000 for the first time since May.
Other leading cryptocurrencies – including Ethereum (ether), Cardano (ada) and Binance Coin – have also seen remarkable price increases in recent days, pushing the overall cryptocurrency market cap from $1.9 trillion to $2.1tn in less than a week.
The gains come after a major downturn between May and July, which saw the market cool off following a record-breaking run in the first four months of 2021.
