A new article dropped with a nugget that many people may not have noticed but is very significant. It said that 10% of BTC volume was for transactions(as in buying stuff) and the other 90% was speculation. This was a surprised to me because I had figured 99.9% of the volume was speculation and only a sliver was transactional. If it is true that 10% is transactional volume, that means even if you use open market cap, which discards what they regard as “fake” volume, there is still about $150 million spent in BTC per day to purchase things. That is a lot more than I would have expected and shows that crypto is further along in adoption that I had thought.
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