There were a remarkable 926,842 transactions in one day for Bitcoin, which broke the previous record. This is a stunning example of how powerful the blockchain is. Three days ago, the long-awaited BTC split took place. Now, this important event has taken place.
Bitcoin, the significant cryptocurrency, keeps shocking people by making more and more transactions. A Glassnode report shows that on April 23, the daily number of Bitcoin transactions broke the record set in December 2023, which was over 731,000 transactions.
Bitcoin’s Runes Debut Fascinates
The most interesting thing about this rise is how it happened at the same time as the release of BTC Runes, a new system for creating fungible tokens on the BTC network. Runes have been used in most BTC deals since the beginning, making up a remarkable 68% of all recorded transactions. Dune’s insights say that investors have helped with a magnificent 3.6 million Rune-related deals.
While Runes’s meteoric rise makes people wonder how long it will stay dominant in the Bitcoin environment, experts like Nazar Khan, co-founder and CEO of TeraWulf, point out how important it is for highlighting the value of Bitcoin’s block space.
Runes and Ordinals are demonstrating the value of block space… The BTC network is the most decentralized, secure, and robust network that exists, so there will be use cases and value derived from that block space. Khan told in an interview
Though there has been a lot going on, Bitcoin’s price has not moved very quickly. BTC’s value is still pretty low, just above $64,000, even though there have been a record number of trades. The monthly chart from CoinMarketCap shows a clear 9% drop. This shows that the mood of the market and the number of transactions are not meeting up.
