Bitcoin's 1 billion transactions is over a decade faster than Visa.
Bitcoin network processed its one billionth transaction 15 years after it mined its genesis block in January 2009.
Notably, the network achieved this milestone the same day a Satoshi-era Bitcoin address came to life.
1 billion transactions
According to data from the Bitcoin dashboard on Clark Moody, the network processed its one billionth transaction in block 842,241 at 05:34 UTC+8 on May 6.
On average, the network has processed 178,475 transactions daily within the 15 years of its launch.
The milestone drew praise from the crypto community, who have set eyes on the next billion target.
Tarik Sammour, an associate professor at the University of Adelaide, pointed out that Bitcoin achieved this milestone “flawlessly, securely, and without any centralized intermediary.”
Similarly, Matteo Pellegrini, the founder of the Orange Pill App, noted that Bitcoin reached this milestone in 15 years compared to Visa’s 25 years.
What is driving Bitcoin transaction volume?
In its early years, Bitcoin transactions were mainly driven by users using the coin to move value between themselves. However, that trend has changed recently, thanks to the launch of novel protocols like Ordinals Inscriptions and Runes. These assets have drawn increased attention and interest to the blockchain, spurring high network activities.
For context, the Bitcoin blockchain recorded its highest daily transaction volume on April 23, processing over 926,000 transactions, of which approximately 90% stemmed from the Runes protocol.
Moreover, the launch of spot Bitcoin exchange-traded funds (ETFs) in January this year has also increased the number of transactions the network handles.
Satoshi era $BTC address
A long-dormant Bitcoin address, originating from the early days of Satoshi Nakamoto’s creation, was recently brought back to life after a decade of dormancy.
Once holding 687 BTC valued at $43.9 million, the wallet saw its contents split and transferred to two distinct addresses during the early hours of today, May 6. In this transaction, 625.43 BTC found its way to an address beginning with bc1qky, while the remaining 61.9 BTC headed to bc1qdc.
Blockchain investigator Lookonchain reported that the whale first received the 687.33 $BTC on Jan. 12, 2014, when the price was $917.
#BTC #bitcoinhalving

Hayes believes Bitcoin's local bottom is in and predicted that the flagship crypto will steadily grind upward over the coming months.
Former BitMEX CEO Arthur Hayes expressed optimism regarding Bitcoin’s future trajectory, suggesting that the recent downturn marks a local bottom, with the flagship crypto poised for a gradual ascent over the coming months.
Hayes shared his insights in a blog post on May 3, attributing the recent market slump to a variety of factors, including the US tax season, concerns over Federal Reserve policies, the “sell the news” effect following the Bitcoin halving, and a slowdown in spot Bitcoin ETF inflows.
Despite these challenges, Hayes remains confident in Bitcoin’s resilience, characterizing the 12% retreat this week as a “well-needed market cleansing.”
BTC range
According to Hayes, Bitcoin experienced a local low of approximately $58,600 earlier this week before rebounding to surpass the $60,000 mark. He anticipates BTC will maintain a range between $60,000 and $70,000 until August.
Hayes foresees a gradual uptrend in the crypto markets, propelled by increased dollar liquidity resulting from the Federal Reserve’s quantitative tightening (QT) taper and the US Treasury’s debtww issuance plans.
This “stealth money printing,” as Hayes described it, is expected to inject more liquidity into the markets, potentially benefiting riskier assets like cryptocurrencies.
“The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out.”
Hayes added that he believes Bitcoin prices will stabilize before embarking on a gradual ascent.
At the time of reporting, Bitcoin prices had recovered by 4.2%, trading at $59,804. However, the crypto remained down 19% from its mid-March all-time high, based on CryptoSlate data.
While uncertainties persist in the crypto market, Hayes’ outlook suggests a cautious optimism, with Bitcoin poised for a gradual recovery in the months ahead.
Treasury policy
Hayes also recently predicted that upcoming US Treasury policy decisions, led by Secretary Janet Yellen, could have a profound impact on market liquidity, potentially sparking rallies in both crypto and stock markets.
He suggested the Treasury has three potential options, each capable of injecting significant liquidity, ranging from $400 billion to $1.4 trillion, into the financial system. These scenarios involve strategies such as zeroing out the Treasury General Account balance, shifting to short-term borrowing via Treasury bills, or a combination of both.
Hayes emphasized Yellen’s pivotal role in these potential developments and predicted positive market reactions, although analysts remain divided on the feasibility and consequences of such actions. As the Treasury’s next policy announcement approaches, anticipation mounts within the financial community regarding the potential influence of these decisions on global markets. (Data via- cryptoslate)
#altcoins #BullorBear

Major support at $50,000 as Binance shows strong buy walls with large orders
Since February, Bitcoin has fallen to its lowest price, breaking below $60,000 and hitting $56,900 as of press time. The price is now 23% below its recent pre-halving all-time high of $73,000.

Bitcoin price November to May (TradingView)
Data from Coinglass shows that Binance, the most liquid exchange for Bitcoin trading, has several buy walls in the order book down to around $50,000. Each yellow line represents at least 200 BTC in orders, roughly $11.5 million.

Bitcoin liquidity on Binance (Coinglass)
The liquidation map for Bitcoin across Binance, OKX, and Bybit shows almost $4 billion of leverage in notional value over the past day. Much of the leverage comes in the form of short positions held above $61,000.

Bitcoin liquidation map (Coinglass)
Over the past 30 days, almost $13 billion worth of leveraged short positions have been placed between $57,000 and $72,000.

(Data via- cryptoslate) #BTC‬ #BinanceLaunchpool #bitcoinhalving