Quick Take:

• Bitcoin marks a significant milestone, processing more than one billion transactions, as reported by Clark Moody’s Bitcoin dashboard.
• The milestone is reached 800 weeks after Bitcoin’s launch, signaling sustained growth and adoption.

Bitcoin, the pioneer cryptocurrency, has achieved a remarkable milestone by processing over one billion transactions, according to data from Clark Moody’s Bitcoin dashboard. This milestone arrives 800 weeks and one day after Bitcoin’s inception on January 3, 2009, with the creation of its genesis block.

The achievement comes amidst a period of heightened activity for Bitcoin, fueled by novel protocols like Bitcoin Ordinals and Runes, which have attracted increased transactional activity to the blockchain. Additionally, the introduction of spot Bitcoin ETFs has bolstered bullish sentiment surrounding the cryptocurrency over the past year.

While Bitcoin’s rival Ethereum has already processed nearly 2.4 billion transactions, Bitcoin’s journey to the one billion mark has been characterized by a slower pace, averaging approximately 6 transactions per second over the past 30 days, according to Clark Moody’s Bitcoin dashboard. Nonetheless, the milestone is significant, especially occurring shortly after the most recent programmed halving event.

Although daily transaction fees have cooled off post-halving hype, the seven-day moving average of transactions on the Bitcoin blockchain remains notably high compared to historical averages, indicating sustained interest and activity. As Bitcoin embarks on the journey towards two billion transactions, its resilience and enduring relevance in the cryptocurrency landscape continue to be reaffirmed.