Bitcoin Reaches New Heights, Maintains Strong Position
Bitcoin, the leading cryptocurrency, made a historic milestone as its price surged to $73,777, establishing a new peak that has yet to be surpassed. Although it experienced a drop to below $57,000 last week, leading to significant losses in altcoins, the recent entry of ETFs on Friday provided a much-needed boost to morale. So, what noteworthy developments have taken place in the past 24 hours and what can investors expect moving forward?
Current State of Crypto Markets
In a significant development, the US Securities and Exchange Commission (SEC) has sent a Wells Notice to the Robinhood platform, indicating its intention to sue the company for offering unregistered crypto services. This announcement, made before the US markets opened, may potentially dampen today’s ETF optimism. However, it is worth noting that the SEC has a history of suing companies in the region, and over time, their influence has weakened. Hence, the BTC price has not experienced major losses thus far.
Bitcoins Awaken After 10 Years
In an intriguing turn of events, a dormant whale address from the time when Satoshi Nakamoto was still active has suddenly become active. This address, which had been holding 687 BTC for a decade, recently transferred its assets to two new addresses on May 6. The wallet first moved 625.43 Bitcoins to an address starting with bc1qky, and the remaining 61.9 BTC to bc1qdc. This awakening of long-dormant addresses is not uncommon, as there are a total of 1.75 million Bitcoin wallets that have been inactive for over a decade. These inactive wallets hold assets worth a staggering $121 billion, indicating the significant portion of assets that remain idle.
1 Billion Transaction Milestone
After 15 years since its inception, the Bitcoin network has reached a major milestone by processing its billionth transaction. This important achievement comes 15 years, four months, and four days after Satoshi Nakamoto launched the network’s first block on January 3, 2009. On average, 178,475 transactions occur daily, surpassing the 1 billion threshold. This milestone highlights the growth and maturity of the Bitcoin network.
Disclaimer:
This article is for informational purposes only and should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
