Bitcoin (BTC) has reached a significant milestone, as it has facilitated over one billion transactions on its network since its first block was extracted on January 3, 2009. This achievement is particularly noteworthy considering the increased daily transaction levels seen over the past year, thanks to protocols like Bitcoin Ordinals and Runes on the world’s first Blockchain. Furthermore, the launch of spot Bitcoin ETFs in the US and Hong Kong has also contributed to the growth and utilization of the Bitcoin network.
While Bitcoin’s accomplishment is commendable, it is important to note that it is not the first Blockchain to achieve a network success of one billion transactions. Ethereum (ETH), its largest altcoin rival, 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 most 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 over the last seven days remains high compared to most of Bitcoin’s history, excluding the past year.
In terms of price, BTC has experienced a 1.14% increase in the last 24 hours and is currently trading at $64,172. Over the past seven days, it has seen a 2.13% rise. It is important for investors to note that this article does not constitute investment advice, and they should conduct their own research and be aware of the high volatility and risks associated with cryptocurrencies.
