Adjusted value settled on Bitcoin fell slightly in 2019; contrast shows strength of late 2017

The adjusted value settled on Bitcoin dropped only slightly in 2019, but it still paints a stark contrast to the dominant run of December 2017.

The Block found that the month with the most on-chain settlements in 2019, June, did less than half of the value reached in December 2017. The roughly $93 billion settled last June is only 45% of the nearly $208 billion settled in December 2017.

Source: Coin Metrics, The Block

According to the data, the adjusted value settled reached $673 billion in 2019, which is similar to 2017 despite indicating an 11% drop from 2018. From 2017 on, each year has reached volumes that eclipse combined totals from 2009 to 2016 nearly four times over.

Source: Coin Metrics, The Block

Coin Metrics' data adjusts for multiple outputs, according to the company, including multiple successive transfers of an amount done over a short time period. This controls for users moving their holdings as opposed to completing peer to peer transactions.