According to recent data, the five busiest days for bitcoin transfers on the network occurred in 2024. The all-time peak was in late April, with the second-highest transaction day recorded on September 8. Over its 15-plus years of operation, the Bitcoin network has seen daily transfer records increase year-on-year in nine of the past 15 years.
2024 sees record daily remittances, annual rate close to surpassing 2023
2024 has seen new milestones for BTC as the crypto asset hit an all-time high in price, peak hashrate, unprecedented difficulty, and record-breaking daily transfer volume. The five busiest days for transfers in Bitcoinâs history occurred this year, with the highest being on April 23, 2024. On that day, miners confirmed 927,010 transfers, marking a new high. More recently, the network saw its second-highest day with 910,083 transactions on September 8.
The third busiest day of 2024 was July 21, with 859,629 transactions, followed by May 26, when bitcoin miners confirmed 852,655 transactions. Not far behind, July 23 took fifth place this year, with 838,977 transactions zipping through the blockchain. Back in Bitcoin's early days, things were much quieter. In 2009, the year Bitcoin first launched, the most active day was December 18, when Satoshi and a handful of miners confirmed a total of 225 transactions.
By 2010, the network began to pick up speed. That year's peak day, November 21, saw miners verify 10,044 transactionsâa huge jump from the previous year. From 2009 to 2017, transaction volume steadily increased each year. Take June 14, 2011, for exampleâminers confirmed 14,158 transactions, setting a new record for the year and surpassing the 2010 record. Then, almost exactly a year later, on June 14, 2012, miners broke a new record for the year, verifying 61,938 transactions that day.
The figures show that 2018 did not surpass 2017, and the record of 490,644 transactions on December 14, 2017, remains in place until 2023. That year peaked on December 31, when miners confirmed a whopping 731,351 transactions in a single day. Currently, 2023 still holds the crown for the most transactions in a single year, with 153,415,993 confirmed transactions. Fast forward to 2024, and by October 6, 145,225,680 transactions had been processed. At the current rate, the record could fall in about two weeks, making 2024 a sure bet to surpass 2023.
As Bitcoin continues to surpass previous records, the networkâs growth trajectory is clear, with 2024 setting new benchmarks. However, Bitcoinâs current throughput of 8.94 transactions per second is significantly slower than Visa and Mastercard in the traditional finance (tradfi) space. Additionally, Bitcoinâs tps lags behind alternative blockchains in terms of scalability, highlighting the ongoing challenges it faces as it grows.
What do you think about the transfer record that Bitcoin achieved in 2024? Please share your thoughts and opinions on this topic in the comments section below.
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