Bitcoin Hits Milestone: Over One Billion Transactions Processed
Congratulations! Bitcoin has officially processed over one billion transactions since its creation. This marks a significant achievement for the leading cryptocurrency, showcasing its widespread adoption and utilization over the years.
The Journey to One Billion Transactions
The milestone of one billion transactions comes 15 years after Bitcoin’s inception on Jan. 3, 2009. It took a total of 5,602 days or roughly 800 weeks for the network to reach this impressive feat. On May 5, transaction number 1,000,000,000 was recorded, embedded in block 842,241. This translates to an average of 178,507 transactions processed daily on the blockchain.
Bitcoin’s Progress in 2024
The year 2024 has been a pivotal year for Bitcoin, with several significant developments taking place:
– In January, the first Bitcoin spot ETF launched in the United States, followed by similar products in Canada and Europe.
– April witnessed the fourth Bitcoin halving event, reducing mining rewards from 6.25 BTC to 3.125 BTC per block.
– The cryptocurrency hit an all-time high of $73,737.94 on March 24, fueled by pre-halving excitement and positive market sentiments.
– Recent price fluctuations have seen Bitcoin drop from $70,000 to below $60,000 before rebounding to $64,222, showcasing its volatility.
GBTC Sees Positive Inflows After 78 Days
Grayscale’s Bitcoin Trust ETF, GBTC, recorded a net inflow of $63 million on May 3, marking the first positive day in 78 days. Other notable inflows in the ETF space include:
– Franklin Templeton’s ETF saw an inflow of $60.9 million.
– Fidelity’s Wise Origin Bitcoin Fund led with $102.6 million in inflows.
– Bitwise and Invesco Galaxy followed with $33.5 million and $33.2 million, respectively.
Hot Take: Bitcoin Continues to Make Waves in the Crypto World
Bitcoin’s journey to over one billion transactions is a testament to its enduring popularity and utility. As the leading cryptocurrency, it continues to push boundaries and set new milestones, attracting institutional and retail investors alike.
Sources:
– [Clark Moody Bitcoin](https://bitcoin.clarkmoody.com/dashboard/)
– [Coingecko](https://www.coingecko.com/en/coins/bitcoin#:~:text=What%20is%20the%20all-time,the%20all-time%20high%20price.)
By
By
By
By
By