Bitcoin surpasses one billion transactions after 15 years

Last updated: May 6, 2024 02:07 EDT | 1 minute reading

Bitcoin has officially processed more than a billion transactions since its inception.

According to data published in Clark MoodyBitcoin, this milestone was reached on May 5th, when transaction number 1,000,000,000 was recorded. The transaction was included in block 842,241.

This achievement comes 15 years after the Bitcoin network went live on January 3, 2009, taking a total of 5,602 days or about 800 weeks. The blockchain would see an average of 178,507 transactions per day.

Bitcoin gains new ground in 2024

The year 2024 was a critical year for major cryptocurrencies. In January, the place Bitcoin exchange-traded funds (ETFs) have been approved in the United States, followed by the recent launch of similar products in Hong Kongmarking the first of its kind in Asia.

In April, the fourth Bitcoin halving took place. Halved Bitcoin mining rewards, dropping from 6.25 BTC per block to 3.125 BTC.

Due to the popularity of Bitcoin ETFs, pre-halving hype, and the potential impact of the US economy, the first cryptocurrency reached its all-time high on March 24, 2024. CoinGecko recorded a trading price of $73,737.94, breaking previous all-time highs.

Over the past 30 days, the crypto has seen significant fluctuations. BTC price fell from the $70,000 level and went through a recent bearish period trading below $60,000. It is currently trading at $64,222, up 1.2% in the last 24 hours.

GBTC records first net inflows in 78 days

Shades of grayBitcoin ETF Bitcoin Trust, or GBTC, had its first day of positive net inflows after a long period of outflows, recording $63 million on May 3, according to preliminary data from Farside.

The Franklin Templeton ETF achieved a record inflow of $60.9 million. Fidelity’s Wise Origin Bitcoin Fund topped the chart 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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