Bitcoin transactions reached a new all-time high of 926,842 transactions, just three days after the Bitcoin halving.
Bitcoin (BTC) amassed over 926,000 daily transactions on April 23, surpassing the previous high of over 731,000 transactions reached in December 2023, according to Glassnode data.
Bitcoin: Number of transactions, all-time chart. Source: Glassnode
The record daily transaction count occurred three days after the Bitcoin halving on April 20, which coincided with the launch of Bitcoin Runes, a new protocol for issuing fungible tokens on the Bitcoin network.
Runes make up the lion’s share of transactions on Bitcoin, accounting for 68% of all Bitcoin transactions. Investors have executed a total of 3.6 million Runes-related transactions, according to Dune.
Runes, share of transactions. Source: Dune
While Runes may not remain the dominant token standard of the Bitcoin network, they are a testament to the value of block space on Bitcoin, according to Nazar Khan, the co-founder and CEO of TeraWulf.
Khan told Cointelegraph in an interview:
"Runes and Ordinals are demonstrating the value of block space... The Bitcoin network is the most decentralized, secure, and robust network that exists, so there will be use cases and value derived from that block space."
Related: Runes are offering a significant lifeline for Bitcoin miners — TeraWulf CEO
Despite the record transaction count, the Bitcoin price remains subdued, just above the $64,000 mark. The world’s first cryptocurrency fell over 9% on the monthly chart, according to CoinMarketCap data.
BTC/USDT/ 1-day chart. Source: CoinMarketCap
Related: Crypto mixing is 'not a crime,' says CryptoQuant CEO
This is a developing story, and further information will be added as it becomes available.