Bitcoin Hits $65,000: What You Need to Know
Bitcoin is trading above $65,000 for the first time in over a week, showing a 0.5% increase from the previous day. The overall crypto market is also benefitting from this positive trend, with a global market capitalization of $2.5 trillion and a 1.3% gain in the past day. Hereโs what you need to know about Bitcoinโs recent performance:
Bitcoin Price Analysis
โ Bitcoin price has backtracked slightly to $64,264.08, still 3% higher than the previous week.
โ $13 billion worth of BTC has been traded in the past day, with 22% of the volume on Binance.
โ The First Digital USD stablecoin on Binance has been the most popular trading pair for BTC investors, accounting for $3 billion in volume.
Bitcoin Network Milestones
โ Bitcoin network has processed over 1 billion transactions.
โ Runes protocol has become the main driver behind growing daily transactions on the Bitcoin network, accounting for roughly 60% of all transactions.
Recent Bitcoin Developments
โ An old wallet from 2011 moved $44 million worth of BTC, showcasing long-term hodling.
โ Runes protocol introduces a new era of fungible tokens on the Bitcoin network, following the legacy of BRC-20 tokens.
Hot Take: The Future of Bitcoin
Bitcoinโs recent price surge and network developments signal a positive trend for the cryptocurrency. With new protocols like Runes boosting daily transactions and old wallets showcasing long-term hodling, Bitcoin continues to evolve and strengthen its position in the crypto market.
Sources:
โ 1 billion transactions milestone
โ Runes protocol dashboard
โ Old wallet movement tweet
Demian Crypter emerges as a true luminary in the cosmos of crypto analysis, research, and editorial prowess. With the precision of a watchmaker, Demian navigates the intricate mechanics of digital currencies, resonating harmoniously with curious minds across the spectrum. His innate ability to decode the most complex enigmas within the crypto tapestry seamlessly intertwines with his editorial artistry, transforming complexity into an eloquent symphony of understanding.