Satoshi

Satoshi Nakamoto

Foundry

Bitcoin

Billion

As Bitcoin, the <a href="https://bitcoinist.com/bitcoin-creator-satoshi-nakamoto-said-bitcoin-should-not-be-called-an-investment-so-what-is-it/">world’s first decentralized cryptocurrency</a>, records 15 years since its inception, its blockchain has also achieved a significant milestone. Bitcoin’s blockchain recently <a href="https://bitcoinist.com/bitcoin-volumes-supply-shock/">surpassed a major transaction benchmark</a>, processing a total of 1 billion transactions on its network, marking a historic moment in the digital asset space. 
<h2 id="bitcoin-transactions-exceed-1-billion">Bitcoin Transactions Exceed 1 Billion</h2> 
Since emerging in the financial landscape in 2009, when pseudonymous Bitcoin creator, <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-creator-satoshi-nakamoto/" rel="nofollow noopener" target="_blank">Satoshi Nakamoto</a> introduced the cryptocurrency’s <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-whitepaper-eleven-years-on-and-still-going-strong/" rel="nofollow noopener" target="_blank">white paper</a>, Bitcoin has significantly reshaped the financial ecosystem, attracting millions of users who continually engage in decentralized transactions daily.&nbsp; 
On May 5, 2023, <a href="https://bitcoinist.com/comparing-bitcoin-blockchain-data-size-to-todays-hottest-tech/">Bitcoin’s blockchain</a> hit a historic milestone, achieving more than one billion network transactions. This accomplishment underscores the cryptocurrency’s considerable utility and <a href="https://bitcoinist.com/6th-country-joins-elite-bitcoin-mining-circle/">widespread adoption across various regions</a> and sectors of the world.&nbsp; 
From everyday consumers to retail and institutional investors, BTC has <a href="https://bitcoinist.com/us-congress-lift-major-bitcoin-adoption-barrier/">overcome demographic limitations and barriers</a>, offering truly decentralized payment solutions across multiple markets and global organizations.&nbsp; 
According to <a href="https://bitcoin.clarkmoody.com/dashboard/" rel="nofollow noopener" target="_blank">data</a> from Clark Moody’s Dashboard, a platform which displays the metrics of Bitcoin’s ecosystem, BTC’s total transactions over the last 15 years have reached $1,000,369,716. This means that over 178,000 transactions were processed daily and more than 15.5 million were executed monthly.&nbsp; 
Additionally, mempool, a waiting area for pending and unconfirmed BTC transactions <a href="https://mempool.space/block/00000000000000000001db6de4f4995bdbfbbeba598f4913154b85c5c3520103?showDetails=false&amp;view=actual#overview" rel="nofollow noopener" target="_blank">disclosed</a> that the one billionth Bitcoin transaction was mined into the 842,241th block by Foundry Pool.&nbsp;&nbsp; 
Typically, a higher transaction count underscores a network’s substantial <a href="https://www.newsbtc.com/news/bitcoin/halving-block-bitcoin-840000/" rel="nofollow noopener" target="_blank">user base</a> and increased engagement. While this is advantageous for a thriving blockchain ecosystem, it may also result in elevated transaction fees.&nbsp; 
DeFiLama has <a href="https://defillama.com/fees/chains/bitcoin" rel="nofollow noopener" target="_blank">reported</a> a total of $1.297 billion in average fees generated by the Bitcoin network over the course of one year. Within a single month, <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-500000-fee/" rel="nofollow noopener" target="_blank">transactional fees</a> reached an astonishing $284.07 million, against the backdrop of a total market capitalization of $1.28 trillion.&nbsp; 
<h2 id="btc-inches-closer-to-70-000-price-mark">BTC Inches Closer To $70,000 Price Mark</h2> 
Amidst the surging transaction levels and Bitcoin’s one billion transaction milestone, the <a href="https://bitcoinist.com/bitcoin-price-set-to-double/">price of the cryptocurrency</a> has been rising steadily, breaking key support levels to trade above $65,000. The cryptocurrency is slowly getting closer to the $70,000 price mark, surging by 2.44% in the last 24 hours and 4.61% over the past seven days.&nbsp; 
At the time of writing, Bitcoin is trading at $65,238, with a 24-hour trading volume of more than $20.3 billion. Crypto analyst, Ali Martinez has <a href="https://x.com/ali_charts/status/1787243113381052681?s=46" rel="nofollow" target="_blank">revealed</a> that based on the Market Value to Realized Value (MVRV) 90-day ratio, BTC is still positioned in a prime buying zone despite its <a href="https://bitcoinist.com/santiment-explains-why-bitcoin-price-below-67000/">surge from $57,000</a> to over $64,000. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/Uv2uDrEy/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

15 Years In: Bitcoin Blockchain Hits Major Transaction Milestone

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Bitcoinist

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