After fifteen years, four months, and four days since its launch on Jan. 3, 2009, Bitcoin [BTC] reached a significant milestone of processing over one billion transactions. This landmark achievement for the world’s largest cryptocurrency has been officially confirmed through on-chain data. According to data provided by Clark Moody, the total number of transactions on the Bitcoin network has now surpassed 1,000,273,544. This event occurred at block height 842,241 highlighting the enduring resilience of Bitcoin’s transactional framework.
This feat stands out because of the consistent pace at which BTC has processed transactions. With an average of 178,475 transactions per day over its 5,603-day lifespan, BTC has demonstrated its capacity to efficiently handle a significant volume of transactions.
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Record-breaking Transaction Day
Recent data from Glassnode reveals April 23, 2024, as a standout day. This is due to the record-breaking 926,842 Bitcoin transactions recorded. Additionally, the surge also coincides with BTC’s price hitting $66,403.
These milestones come during an exhilarating period for BTC. It is characterized by innovative protocols like Bitcoin Ordinals and Runes. Furthermore, the introduction of spot Bitcoin ETFs has bolstered market sentiment. This further propels transactional activity on the blockchain.
What about the Bitcoin Lightning Network?
It should be noted that the aforementioned transaction count does not include activity on the Lightning Network. The layer-2 solution is designed to facilitate faster and cheaper transactions for BTC. River, a Bitcoin-only exchange highlighted that the Lightning Network processed an estimated 6.6 million transactions in August 2023 alone. According to a report, the network grew by 1212% in 2 years.
Bitcoin’s latest rise and milestone highlights its enduring relevance, even in the face of completion from altcoins. Even amidst the rising inflow of new assets, BTC remains at the top of the charts and continues to reign the market.
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