The transaction volume reached $19.2 trillion in 2024, which is more than double the transaction volume of $8.7 trillion in 2023. The growth of Bitcoin transaction volume in 2024 indicates the return of users' trust in this network and could be a sign of further upward trend in the future.

A number of factors are expected to drive Bitcoin’s price and trading volume in 2024, including:

1. **Approval of Bitcoin Exchange Traded Funds (ETFs) in the US**: This has increased investor confidence and brought new capital into the Bitcoin market.

2. **Bitcoin Halving**: The halving of the mining reward occurs every four years and reduces the number of new Bitcoins entering the market. This reduction in supply can lead to an increase in Bitcoin’s price.

3. **Growing Bitcoin Adoption and Usage**: More companies and institutions have started accepting Bitcoin as a payment method, which has also helped increase Bitcoin’s demand and value.
 4. **Increasing institutional investor appetite**: The entry of large institutional investors into the Bitcoin market has increased transaction volume and its price.
5. **Global economic and political developments**: Certain global developments may increase the appetite to invest in Bitcoin as a safe haven asset.