Bitcoin Hits One Billion Transactions Amid Weekend Rebound 15 Years After Satoshi Nakamoto Created It — But Was It Faster Than Ethereum?
Portfolio Pulse from aniketverma@benzinga.com
Bitcoin (BTC) surpassed 1 billion transactions, 15 years after its creation by Satoshi Nakamoto, marking a historic milestone. The achievement was fueled by the halving day Runes frenzy, boosting transactions significantly. Despite this, Bitcoin's transaction rate remains slower than Ethereum's (ETH), which has processed nearly 2.4 billion transactions, thanks to its smart contracts and decentralized applications. The surge in Bitcoin transactions over the last 15 months is attributed to new token protocols like Ordinals and Runes. The year also saw a sustained demand for Bitcoin, with $11.56 billion moving into U.S. spot exchange-traded products, representing 4.12% of Bitcoin's total supply. Bitcoin's price recently surged from $57,000 to $64,000, yet it's considered to be in a prime buy zone according to crypto analyst Ali Martinez.
May 06, 2024 | 11:05 am
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Bitcoin surpasses 1 billion transactions, indicating a significant milestone in its adoption and usage. The recent surge in transactions and price indicates a strong market interest.
The surpassing of 1 billion transactions by Bitcoin signifies a major milestone in its adoption, reflecting positively on its market perception and investor interest. The sustained demand and recent price surge further underscore its robust market position.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ethereum's transaction count nearly doubles that of Bitcoin, highlighting its extensive use in smart contracts and decentralized applications.
Ethereum's nearly 2.4 billion transactions, as opposed to Bitcoin's 1 billion, underscore its widespread adoption and utility in the realm of smart contracts and decentralized applications. This high transaction count reflects positively on Ethereum's market position and investor interest.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80