The Bitcoin Blockchain has surpassed one billion transactions processed after 15 years of its history. The transaction count does not include those processed on the Lightning Network.
Summary
Bitcoin: one billion transactions after 15 years of its history
On May 5, 2024, after 15 years of its history, the Bitcoin Blockchain has surpassed one billion transactions.
“#Bitcoin has officially processed over 1 billion transactions.”
According to the data reported in the video, the billionth transaction processed on the Bitcoin Blockchain was mined in block 842,241 at 9:34 PM UTC on May 5th.
Exactly, this milestone was reached after 15 years, four months, and four days that the pseudonymous creator of Bitcoin (BTC), Satoshi Nakamoto, mined the first block of the network on January 3, 2009.
Obviously, the count of one billion transactions for Bitcoin does not include those processed on the Lightning Network, the layer 2 of Bitcoin for micropayments, but only those on the Blockchain.
Instead, over its 5,603 days of existence, Bitcoin has processed an average of 178,475 daily transactions.
Bitcoin: the new milestone of one billion transactions reached after 15 years of history
Only in the last year, among the main factors that have allowed the Bitcoin network to reach and exceed 1 billion transactions, there are innovative protocols like Bitcoin Ordinals and Runes.
For example, with just the Runes protocol, launched in conjunction with the fourth Bitcoin halving on April 20th at block 840,000, the network recorded an increase in BTC transactions of +57%, just on that day.
Rune is a new standard for Bitcoin tokens that allows you to embed data directly into Bitcoin transactions, going beyond simple financial transactions and allowing for the inclusion of additional information.
However, Bitcoin is not the first blockchain to surpass one billion transactions. Ethereum, launched in 2015, has already surpassed 2 billion transactions.
The price of BTC
Meanwhile, the price of BTC seems to be recovering, registering a pump of +2.80% in the last seven days.
Actually, at the time of writing, BTC is trading at a price of $64,172, still far away from its all-time high of over $73,000 reached in mid-March. But it is certainly recovering, compared to the $57,000 touched during these first days of May.
And speaking of his price predictions, recently, veteran trader Peter Brandt talked about a drop to as low as $30,000 or to the lows of 2021, for the “exponential decay” phase of the Bitcoin cycle.
On the contrary, the experts from the Finder survey, have predicted that the price of BTC will rise to $109,141 by the end of 2024, $150,996 by 2025, and $567,489 by 2030.
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