As an experienced financial analyst, I find the one billionth transaction milestone on the Bitcoin network to be a remarkable achievement. Fifteen years after its inception, Bitcoin has proven itself as a resilient and innovative digital asset. With an average of 178,475 daily transactions, the network has shown impressive growth.
As a researcher studying the digital currency landscape, I’m thrilled to report that the Bitcoin network has recently achieved an impressive accomplishment: processing its one billionth transaction. This significant milestone occurred approximately 15 years following the network’s inception, demonstrating the enduring resilience and adaptability of this pioneering peer-to-peer electronic cash system.
Clark Moody’s Bitcoin dashboard indicates that the one billionth transaction occurred in block 842,241, which was mined around 9:34 pm UTC on May 5, according to other available data.
Fifteen years, four months, and four days have passed since I, as a researcher, mark the momentous occasion of Bitcoin‘s (BTC) genesis. On January 3, 2009, anonymously credited to Satoshi Nakamoto, the first block was mined on the network.
As a cryptocurrency investor, I can tell you that on average, around 178,475 Bitcoin transactions occur daily throughout its 5,603-day history.
#Bitcoin has officially processed over 1 billion transactions.
— Wicked (@w_s_bitcoin) May 5, 2024
I notice that the transaction count I’ve gathered does not incorporate those made on the Lightning Network, which is an additional layer built on top of Bitcoin specifically designed for handling micropayments.
In August, 2023, River’s Bitcoin-exclusive data indicated that at least 6.6 million transactions were carried out on the Lightning Network. Given that the Lightning Network went live in January, 2018, this figure implies a potential total of hundreds of millions of transactions have taken place on it since then.
The number of daily Bitcoin transactions surged near the network’s fourth halving, reaching a new peak of 926,000 on April 23rd.
As a crypto investor, I’ve noticed a significant increase in demand for Bitcoin around block 840,000. This surge can be attributed to the introduction of the Runes protocol – a novel Bitcoin token standard.
That said, Bitcoin’s daily transaction count has since cooled off to 660,260 on May 4.
As a researcher studying the world of cryptocurrencies, I’ve discovered that although Bitcoin was the pioneer in this field, it wasn’t the initial network to handle one billion transactions.
As a researcher studying the cryptocurrency market, I can share that Ethereum, Bitcoin’s main competitor, has handled more than 2 billion transactions since its inception in July 2015, according to data from Etherscan.
I’ve noticed an uptick in Bitcoin’s price lately. It currently stands at around $63,750 as of now, marking a significant increase of over 12% from its two-month low of $56,800 on May 2, based on the data provided by CoinGecko.
However, it is still down 13,6% from its all-time high of $73,740 set on March 13.
Read More
- JASMY PREDICTION. JASMY cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- Top gainers and losers
- WOOF PREDICTION. WOOF cryptocurrency
- GOAL PREDICTION. GOAL cryptocurrency
- LUNA PREDICTION. LUNA cryptocurrency
- BOO PREDICTION. BOO cryptocurrency
- CTC PREDICTION. CTC cryptocurrency
- DUEL PREDICTION. DUEL cryptocurrency
- SCOMP PREDICTION. SCOMP cryptocurrency
2024-05-06 02:59