Bitcoin Transaction Speed Hits a Plateau

Summary:
Bitcoin’s transaction velocity has stagnated, reminiscent of its early days 13 years ago, as highlighted by CryptoQuant CEO Ki Young Ju. This stagnation reflects Bitcoin’s shift towards a "Digital Gold" narrative, where institutions hold it as a store of value rather than using it for daily transactions. Former Coinbase executive Nick Tomaino noted that while Bitcoin was initially seen as a revolutionary payment method, its practical usage has faced challenges, especially compared to Ethereum. Zach Rynes from Chainlink emphasized Bitcoin’s technical limitations, such as volatility and payment accuracy issues, which hinder its use for payments. Despite advancements like the Lightning Network, Bitcoin’s Layer 1 payments are unlikely to go mainstream soon.