Bitcoin Surpasses One Billion Transactions After 15 Years
By Hongji Feng
Updated: May 6, 2024, 02:07 EDT
Bitcoin has officially reached a major milestone, processing over one billion transactions since its inception.
According to data published on Clark Moody Bitcoin, this significant achievement occurred on May 5, when the one billionth transaction was recorded in block 842,241.
This accomplishment comes 15 years after the Bitcoin network first went live on January 3, 2009, taking a total of 5,602 days or approximately 800 weeks. On average, the blockchain has witnessed 178,507 transactions per day.
Bitcoin Makes Strides in 2024
The year 2024 has been a pivotal year for the leading cryptocurrency. In January, spot bitcoin exchange-traded funds (ETFs) were approved in the United States. This was followed by the recent launch of similar products in Hong Kong, marking the first of its kind in Asia.
In April, the fourth Bitcoin halving occurred, reducing the mining rewards from 6.25 BTC per block to 3.125 BTC.
Thanks to the popularity of Bitcoin ETFs, the pre-halving anticipation, and the potential impact on the US economy, the first cryptocurrency reached an all-time high on March 24, 2024.
CoinGecko reported a trading price of $73,737.94, surpassing previous historical highs.
Over the past 30 days, the crypto market has experienced significant fluctuations. The price of BTC dropped from the $70,000 level and recently entered a bearish period, falling below $60,000. Currently, it is trading at $64,222, representing a 1.2% increase in the past 24 hours.
GBTC Records First Net Inflows in 78 Days
Grayscale’s Bitcoin Trust ETF, or GBTC, witnessed its first day of net positive inflows after a prolonged period of outflows. According to preliminary data from Farside, it recorded $63 million in net inflows on May 3.
Franklin Templeton’s ETF achieved a record inflow of $60.9 million. Fidelity’s Wise Origin Bitcoin Fund topped the charts with inflows of $102.6 million, while Bitwise and Invesco Galaxy followed with $33.5 million and $33.2 million, respectively.
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