2024-05-06
After the launch of Bitcoin on January 3, 2009, marking the creation of its first block, the world's most valuable cryptocurrency has achieved a significant milestone by surpassing one billion processed transactions.
This achievement comes at an exciting time for Bitcoin, as it has experienced increased levels of daily transactions over the past year.
The introduction of innovative protocols such as Bitcoin Ordinals and Runes has attracted a growing amount of activity on the world's first blockchain.
Additionally, the launch of spot Bitcoin ETFs has generated a bullish sentiment for the token throughout the past year.
It is worth noting that Bitcoin is not the first blockchain to reach the one billion transaction milestone. Its competitor, Ethereum, for example, has processed nearly 2.4 billion transactions.
However, Bitcoin's journey to this milestone has been longer and slower, with an average rate of 6 transactions per second over the past 30 days, as reported by Clark Moody's Bitcoin dashboard. This latest achievement comes shortly after its most recent programmed halving event.
Although the hype surrounding the halving has subsided, daily transaction fees have cooled down.
Nevertheless, the seven-day moving average of transactions on the Bitcoin chain remains high compared to most of its history, excluding the past year.
Bitcoin is now embarking on the path towards two billion total transactions.
