Bitcoin has seen an average of 178,475 daily transactions during its 5,603-day lifespan.
According to SolanaFloor, Bitcoin processed its one billionth transaction since its launch 15 years ago, marking a significant milestone. This exceeds the previous peak, which was reached on April 23 at 927,000.
According to information from Clark Moody’s Bitcoin dashboard, the transaction was mined into block 842,241 on May 5 at 9:34 p.m. UTC. Excluding transactions via the Lightning Network, Bitcoin has experienced an average of 178,475 daily transactions throughout its 5,603-day lifetime.
Data from River indicates that in August 2023, the Lightning Network alone processed at least 6.6 million transactions. This shows that since its inception in January 2018, the network has enabled hundreds of millions of transactions.
Recent Surge in Bitcoin’s Daily Transactions
The crypto industry has been abuzz with talks about Bitcoin transactions and their associated fees lately. This is primarily due to the recent introduction of Bitcoin Ordinals and Runes. The introduction of Bitcoin Ordinals has paved the way for a new breed of tokenized assets to exist on the network by embedding data onto satoshis, the smallest unit of Bitcoin. This has opened up new possibilities for the network, including the ability to create unique NFTs that can live on the blockchain.
Similarly, fungible tokens can open up new options for the network with the introduction of Runes, including more decentralized finance applications. Furthermore, the introduction of Bitcoin ETFs may have played a role in the spike in transactions.
A recent news report from CrpytocurrenciesToWatch (CTW), has shown that Grayscale’s ETF (GBTC) saw a $63 million inflow on Friday. “After a challenging period of 80 days with billion-dollar outflows, Grayscale’s Bitcoin Trust (GBTC) has shown resilience. It has stopped the bleeding and ended the day on a positive note,” CTW reported. The report also noted that the Bitcoin ETF market had a total inflow of $378.3 million, which is its highest since the past 28 market days.
Bitcoin is currently trading at $63,750, up more than 12% from a two-month low of $56,800 on May 2, according to CoinGecko. However, it is still 13.6% down from its all-time high of $73,740, set on March 13.
