The data shows that the trading volume in the bitcoin chain has soared to the highest level in history, and the transaction on a single day on July 29 exceeded $6.3 billion.

According to LongHash data, bitcoin prices are in a period of high and low volatility for most of July, and the short-term and even medium-term movements of Bitcoin are not clear. On July 28th, the trading volume of the Bitcoin network fell to the lowest level in the past two months. Only $1.11 billion in economical transactions were processed on the Bitcoin network. On July 29th, the highest volume of transactions since January 2018 appeared on the Bitcoin network, processing more than $6.3 billion in economic transactions in one day. The difference between the adjusted volume and the original volume data is that the former removes internal transactions that do not generate benefits, such as the currency being sent back and forth between the exchange's own hot wallet or cold wallet, while still retaining all external transaction. Adjusted trading volume is considered to be a better indicator of the actual activity level on the Bitcoin network, but it is worth noting that even the adjusted trading volume indicator does not perfectly reflect the use of Bitcoin.