According to a new report, illegal transactions, scams and gambling together make up less than 3% of the volume on the Bitcoin blockchain while exchanges and trading desks account for around 80% of volume. Exchanges Dominate Bitcoin Volumes A new study called “B lockchain Analysis of the Bitcoin Market” has found that illegal transactions, scams, and gambling combined account for just 3% of all onchain bitcoin trade volume. On the other hand, the study asserts that exchange and trading desk-related volume — which is mostly speculative — constitutes about 80% of the total volume. In their analysis, the authors of a report released by the National Bureau of Economic Research (NBER) appear to debunk the assertion that illegal transactions dominate bitcoin ( BTC ) trade volumes. In particular, the authors, Igor Makarov from the London School of Economics and Antoinette Schoar of the MIT Sloan School of Management, explain how earlier studies were likely to be overstating the economic
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