Bitcoin Sets New Transaction Record on Christmas Eve
On December 24, 2023, Bitcoin achieved a remarkable feat by confirming 723,459 transactions in a single day, surpassing the previous record of 710,579 transactions. This significant increase in daily transactions can be attributed to the large number of Ordinal inscriptions contributing to the volume of transfers. According to Dune Analytics, about 439,505 Ordinal inscriptions were verified on that day, making up 60.75% of all transactions.
New Hashrate Record for Bitcoin Miners
In addition to the record-breaking number of transactions, Bitcoin miners also reached a new milestone by achieving a total hashrate of 546 exahash per second (EH/s) on Christmas Eve. This represents a significant increase from the previous day’s hashrate of 538 EH/s. The escalating hashrate trend indicates a continuous growth in the computing power dedicated to mining Bitcoin, with a total increase of 311 EH/s since January 1, 2023.
Hot Take: Bitcoin Continues to Set Records
Bitcoin’s latest achievements on Christmas Eve demonstrate the network’s ongoing growth and resilience. With a surge in daily transactions and a soaring hashrate, Bitcoin is solidifying its position as the leading cryptocurrency. These milestones highlight the increasing adoption and interest in Bitcoin, as more individuals and businesses recognize its potential as a decentralized digital currency. As we move into the future, it will be exciting to see what new records Bitcoin will break and how it will continue to shape the world of finance and technology.
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