Bitcoin (BTC) reaches new network milestone by processing one billion transactions

The Bitcoin (BTC) network recently reached a new milestone that highlights its high level of development and investor interest. Bitcoin has reached one billion transactions processed on the network.

According to data released by Clark Moody’s Bitcoin panel, the billionth transaction on the Bitcoin network was mined in block 842,241, on May 5th at 9:34 pm UTC.

Bitcoin’s recent milestone comes less than three weeks after the network underwent its fourth halving, which reduced miners’ block rewards from 6.25 bitcoin to 3.125 BTC. The Bitcoin halving event was held on April 19. On this day, the total number of transactions for the largest cryptocurrency on the market was around 990.64 million.

Furthermore, another important point should be highlighted in recent days: the network witnessed a significant increase in daily transactions in April following the launch of new protocols such as Ordinals, Runas and the BRC-20 token standard.

Runes boosts Bitcoin and cryptocurrency reaches new all-time high in daily transactions

The Runes token standard, which was recently launched on Bitcoin, has propelled the largest cryptocurrency to reach a new all-time high in daily transactions, according to data released by analytics platform, IntoTheBlock, on April 26.

With Runes, the number of Bitcoin transactions recorded rapid growth, reaching 927,000 on April 23. The previous record had been set in December last year, when 724,000 daily transactions were processed, according to the survey.

“Bitcoin has reached a new all-time high in daily transactions! After the launch of Runes, the number of Bitcoin transactions increased rapidly, reaching 927,000 on Tuesday. This breaks the previous maximum of 724 thousand set in December 2023”, he wrote.

At the time of publication, the price of Bitcoin was quoted at US$64,311.51, up 0.3% in the last 24 hours. In the last seven days, Bitcoin has appreciated by 3.3%.

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