Like bitcoin, the The world's first decentralized cryptocurrency., records 15 years since its creation, its blockchain has also achieved an important milestone. bitcoin blockchain recently surpassed a major trading benchmarkprocessing a total of one billion transactions on its network, marking a historic moment in the digital asset space.
bitcoin transactions exceed one billion
Since it emerged onto the financial landscape in 2009, when bitcoin's pseudonymous creator, bitcoin-news/bitcoin-creator-satoshi-nakamoto/” rel=”nofollow noopener” target=”_blank”>Satoshi Nakamoto introduced cryptocurrency bitcoin/bitcoin-whitepaper-eleven-years-on-and-still-going-strong/” rel=”nofollow noopener” target=”_blank”>White paperbitcoin has significantly reshaped the financial ecosystem, attracting millions of users who continually engage in decentralized transactions on a daily basis.
On May 5, 2023, The bitcoin blockchain reached a historic milestone by achieving more than one billion network transactions. This achievement underlines the considerable utility of cryptocurrency and widespread adoption in several regions and sectors of the world.
From everyday consumers to retail and institutional investors, btc has overcome demographic limitations and barriersoffering truly decentralized payment solutions across multiple markets and global organizations.
According bitcoin.clarkmoody.com/dashboard/” rel=”nofollow noopener” target=”_blank”>data According to Clark Moody's Dashboard, a platform that displays bitcoin ecosystem metrics, total btc transactions over the last 15 years have reached $1,000,369,716. This means that more than 178,000 transactions were processed daily and more than 15.5 million were executed monthly.
Also, mempool, a waiting area for pending and unconfirmed btc transactions. revealed that the billionth bitcoin transaction was mined in block 842,241 by Foundry Pool.
Typically, a higher transaction count underlines the substantial importance of a network. bitcoin/halving-block-bitcoin-840000/” rel=”nofollow noopener” target=”_blank”>base user and greater commitment. While this is advantageous for a thriving blockchain ecosystem, it can also result in high transaction fees.
DeFiLama has bitcoin” rel=”nofollow noopener” target=”_blank”>reported a total of $1.297 billion in average fees generated by the bitcoin network over the course of a year. In a single month, bitcoin-news/bitcoin-500000-fee/” rel=”nofollow noopener” target=”_blank”>transactional fees reached a staggering figure of $284.07 million, against a backdrop of a total market capitalization of $1.28 trillion.
btc is getting closer to the $70,000 price mark
Amid rising transaction levels and bitcoin's billion transaction milestone, the cryptocurrency price has been rising steadily, breaking key support levels to trade above $65,000. The cryptocurrency is slowly approaching the $70,000 price mark, rising 2.44% in the last 24 hours and 4.61% in the last seven days.
At the time of writing, bitcoin is trading at $65,238, with a 24-hour trading volume of over $20.3 billion. Cryptoanalyst Ali Martinez has x.com/ali_charts/status/1787243113381052681?s=46″ rel=”nofollow” target=”_blank”>revealed that, based on the 90-day Market Value to Realized Value (MVRV) ratio, btc is still positioned in a prime buying zone despite its $57,000 increase at more than $64,000.
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btc price at $63,000 | Source: BTCUSD on Tradingview.com
Featured image from Coin Kickoff, chart from Tradingview.com
