
Total Transfer Volume adds the BTC amounts recorded in on-chain transfers during each day, expressed in BTC. It measures a flow of coins through the blockchain, not a balance of distinct coins or the volume of trades executed inside exchanges.
Higher volume means more BTC is being moved through recorded transfers, while lower volume means less coin movement. The daily total reached 67.35 million BTC on January 24, 2016, above Bitcoin's maximum supply because a flow can include repeated movement of the same coins. Volume therefore needs to be read as activity, not as a count of unique BTC changing owners.
Wallet reshuffling and repeated transfers can inflate raw movement without equivalent economic settlement. Off-chain exchange trades and payments do not all appear here; use transaction activity, transfer sizes and adjusted-volume measures to understand what drives a change.
A stock and a flow measure different things. The same coins can move multiple times within one day, so adding the transfers can exceed the maximum number of coins that can exist.
No. This records blockchain transfers. Exchange order-book trades generally update internal balances and may produce no separate on-chain transaction.
BTC volume measures coin amounts. USD volume values transfers at a BTC price, so it can rise because of price appreciation even when fewer coins move.