BTC daily trading hits record high.
Key Takeaways
- The Bitcoin network reached a new daily transaction record of 926,842 on April 23, surpassing the previous record set in December 2023.
- Bitcoin Loon currently accounts for 68% of network transactions, with over 3.6 million related transactions.
- DeFi analyst Ignas suggests that interest in runes may initially mimic the volatility of NFTs and memecoins, but its long-term potential remains promising.
You have reached the Bitcoin network April 23: Reaches record high of daily transactions with 926,842This exceeds the previous highest transaction volume of 731,000 set in December 2023.
There has been a surge in activity. Immediately after Bitcoin’s fourth halving Coinciding with the launch of Bitcoin Runes on April 20th A protocol designed for issuing fungible tokens.
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Bitcoin Runes are fast It is a major contributor to network transaction volume, accounting for 68% of all transactions. According to Dune data, there are over 3.6 million transactions involving this protocol.
DeFi analyst Ignas commented: The surge in interest in runes mirrors the excitement seen in other digital assets such as NFTs and memecoins. We often experience stagnation as the novelty wears off. But he remains optimistic about Rune in the long term.
If I’m right, the real opportunity will come after the hype following the launch of the Rune protocol has died down.
Despite this high trading volume, Bitcoin price has remained relatively stable, At the time of writing, it’s worth nearly $64,000.
Nonetheless, this new Bitcoin record not only highlights the network’s scaling capabilities, but also reflects the excitement surrounding new blockchain innovations.
In other BTC-related news, the “epic situation” of the fourth Bitcoin halving was recently sold at auction for 33.3 BTC (about $2.13 million).
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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