Bitcoin Milestone Made as More Than 400 Million Transactions Have Been Blockchained Using BTC
According to a recent Reddit post, the number of Bitcoin (BTC) transactions ever made has reached 400 million. The redditor gielbier showed that 400001789 transactions have been made up until block 570761.
Bitcoin Transactions Reach New Record
The number of Bitcoin transactions on the BTC blockchain ledger has reached 400 million. In a Reddit post, he explained that this number of total transactions excludes batching, off-chain and other layers as well. He mentioned that the max size of a block was 3.7 MB and was tested a long time ago.
The Redditor explained that the size of the block is not important in that context, what matters is the number of transactions processed by the network.
According to data provided by BitInfoCharts, the number of Bitcoin transactions has been increasing in the last few weeks. Indeed, the transactions processed by the network have been increasing since April 2018. A few days ago, the Bitcoin network handled 401,000 transactions, the 9th better day in terms of transactions processed by Bitcoin miners.
The record for number of transactions was registered on December 14, 2017, when Bitcoin was reaching an all-time high close to $20,000. After that day, the number of transactions plummetted as well by the market.
Nonetheless, it is expected to see an increase in the number of transactions in the near future as Bitcoin seems to be entering a new bull market. When this happens, transactions tend to increase because there is a larger activity in the whole market.
Just in March 2018, the number of transactions reached the lowest point in over a year when the network performed 135,000 transactions at the end of the month. Since that moment, the number of txs started to increase once again to reach the current levels close to 400,000.
To share some perspective, in 2012, Bitcoin was processing around 5k transactions per day. And to give you the most recent perspective, the bitcoin price was only $3,939 just 14 days ago and now is trading at a value of $5,266 BTC/USD.
Live Bitcoin (BTC) Price:
1 BTC/USD =$43,552.4621 change ~ -1.44%