NONSENSE, everybody knows it is MUCH lower, maybe 50M as claimed in this forum, and was maybe 68 M in April [Fitch rating agency press release].

Now it is easy to see that in current bitcoin it is IMPOSSIBLE to estimate accurately the transaction volume. There is just no way to know the accurate volume, not even in theory.

In Section 2.5 of our paper http://arxiv.org/abs/1405.0534
we explain why exactly it is so:

A particular problem are the actions of some bitcoin addresses which hold very large balances
and return change to themselves at new freshly created addresses.