December is already the second-biggest month ever for bitcoin on-chain volumes

Adjusted on-chain activity on the Bitcoin network has passed $170.57 billion in December — the second-highest peak ever. December also saw an increase of 25.7% compared with November, which had the fourth-highest adjusted on-chain volume recorded.

The record monthly volume occurred during the last big bull run, in December 2017, when it peaked at $207.86 billion. As of today, this month's volume is $30.3 billion behind that record.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.