Bitcoin has updated its one billionth transaction processed on the block 842,241 on Sunday, May 5.
This marks a significant milestone for the project a little over 15 years after its launch, changing the digital asset landscape in January 2009.
Institutional acceptance of Bitcoin has been growing steadily in the past years. The most recent development happened at the beginning of 2024 with the landmark approval of the first spot Bitcoin exchange traded fund (ETF) fund in the United States.
According to a report from CoinTelegraph, the network has processed an average 178,475 transactions daily throughout its 5,603 days of existence.
The data does not account for the transactions on the Lighting Network, the network’s a layer-2 platform using micropayment channels to scale Bitcoin’s capacity for cheaper and more efficient running.
In a separate report, a dormant Bitcoin whale address with 687 BTC worth close to $44 million has moved its holdings to two separate addresses on May 6.
This is the first time in 10 years that the address made movements. Prior to Monday’s developments, the wallet’s final activity dated back to the time that Bitcoin developer, Satoshi Nakamoto, was still active.
The wallet has transferred 61.9 Bitcoin to an address that starts with ‘bc1qky’ and proceeded to transfer the remaining 61.9 BTC to another wallet with a starting initials of ‘bc1qdc.’
Data from Chainanalysis revealed that there are an estimated 1.75 million Bitcoin addresses that remain dormant in the last 10 years.