Economy 06-05-2024 08:03 17 Views

Bitcoin Crosses One Billion Transactions After 15 Years

Bitcoin has officially processed over one billion transactions since its inception.

According to data published on Clark Moody Bitcoin, this landmark was reached on May 5, when transaction number 1,000,000,000 was recorded. The transaction was included in block 842,241.

#Bitcoin has officially processed over 1 billion transactions.

— Wicked (@w_s_bitcoin) May 5, 2024

This achievement comes 15 years after the Bitcoin network went live on Jan. 3, 2009, taking a total of 5,602 days or roughly 800 weeks. The blockchain would see an average of 178,507 transactions per day.

Bitcoin Gains New Ground in 2024

The year of 2024 has been a critical year for the leading crypto. In January, the spot bitcoin exchange-traded funds (ETFs) were approved in the United States, followed by the recent launch of similar products in Hong Kong, marking the first of its kind in Asia.

In April, the fourth Bitcoin halving took place. It reduced the Bitcoin mining rewards by half, bringing it down from 6.25 BTC per block to 3.125 BTC.

Due to the popularity of Bitcoin ETFs, the pre-halving hype, and the potential impact of U.S economy, the first cryptocurrency witnessed its all-time-high on March 24, 2024. CoinGecko recorded a trading price of $73,737.94, breaking the previous historical highs.

Over the past 30 days, the crypto experienced significant fluctuations. BTC price dropped from the $70,000 level and saw a recent bearish period trading below $60,000. It is currently trading at $64,222, marking 1.2% up within the past 24 hours.

GBTC Records First Net Inflows in 78 Dyas

Grayscale’s Bitcoin Trust ETF, or GBTC, has seen its first day of net positive inflows after a long period of outflows, recording $63 million on May 3, according to preliminary data from Farside.

Franklin Templeton’s ETF achieved a record inflow of $60.9 million. Fidelity’s Wise Origin Bitcoin Fund topped the chart with inflows of $102.6 million, while Bitwise and Invesco Galaxy followed with $33.5 million and $33.2 million, respectively.

The post Bitcoin Crosses One Billion Transactions After 15 Years appeared first on Cryptonews.

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