Bitcoin, the world’s largest and first Blockchain-based cryptocurrency, has achieved a significant milestone by facilitating over one billion transactions on its network. This milestone is a testament to the use of protocols like Bitcoin Ordinals and Runes, which have contributed to increased daily transaction levels over the past year. Additionally, the launch of spot Bitcoin ETFs in the USA and Hong Kong has further enhanced the usage of the Bitcoin network.
While Bitcoin’s achievement is noteworthy, it is important to note that it is not the first Blockchain to reach the one billion transaction mark. Ethereum, its biggest competitor and the largest altcoin, has already facilitated approximately 2.4 billion transactions on its network. However, Bitcoin reached this milestone at a slower pace, averaging six transactions per second in the last 30 days, shortly after the recent block reward halving.
Despite the decrease in daily transaction fees following the block reward halvings, Bitcoin is embarking on its journey towards a total of two billion transactions. The average number of transactions in the last seven days remains high compared to most of Bitcoin’s history, excluding the past year.
In terms of price, Bitcoin has experienced a 1.14% increase in the last 24 hours and is currently trading at $64,172. Over the past week, it has seen a 2.13% rise. However, it is important to note that the information contained in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
