3.1 Billion Transactions Made From The Launch Of Bitcoin

Since the launch of Bitcoin, there have been 3.1 billion transactions made on the network as per the latest BTC news that we are reading further today.

All of the cryptocurrencies showed exponential growth in adoption and reached a total of 3.1 billion transactions so the total value actually varies but the high activity shows more viable use cases regarding the overall adoption. As per the Reddit comments, we can see that some of the biggest chains in terms of yearly growth is clearly Bitcoin as a leader and is also speeding ahead of the smaller chains.

EOS was one of the networks that skyrocketed during its launch but later ended up carrying a lot of transaction levels and most of the activity was boosted by the distributed apps as well as by the simulated mining schemes. Some of the other competitors in the past years were Bitcoin Cash and Bitcoin SV but it is unknown how much of their growth was actually organic or whether it was achieved through spam transactions. Bitcoin’s transaction number is also slightly inaccurate and possibly had a few spam and coin mixing transactions but it is difficult to rule out the economic transactions from the on-chain computation cases.

Transaction health is important because it allows us to see the growth of the cryptocurrencies. Back in 2019, there were some platforms that made huge transactions including decentralized finance as well as smart contracts. Some of the other blockchains saw their transaction number stagnate while others such as IOTA are not fulfilling the promise for the bigger transaction count as the network is down for more than two weeks. The token transactions can also show better results and there are more likely related to airdrops, short-term spikes, and simulated mining as per the latest BTC news.

For example, Litecoin and Dash saw their activity increase over the past year during the bear market while in the meantime, networks such as Tron was still falling behind in comparison to EOS. The increase in transaction count doesn’t quite correlate with the increase in the prices of the assets. The on-chain activity has proven to be a favorable indicator for a few assets. Bitcoin and Litecoin have a high on-chain activity which coincides with periods of more active price actions and now the Bitcoin network carries between 300,000 and 400,000 transactions each day, reaching $1 billion per day according to the latest BTC news.