New Peak Reached: Bitcoin Achieves Record-Breaking Daily Transactions

Just three days following the Bitcoin halving, Bitcoin transactions soared to a new pinnacle, totaling 926,842 transactions. This surpassed the previous record of over 731,000 transactions in December 2023, as per Glassnode data.

The surge in daily transactions occurred post the April 20 Bitcoin halving, coinciding with the introduction of Bitcoin Runes, a novel protocol enabling the issuance of fungible tokens on the Bitcoin network.

These Runes dominate Bitcoin transactions, constituting 68% of the total. Investors have conducted 3.6 million transactions related to Runes, according to Dune.

While Runes may not remain the dominant token standard of the Bitcoin network, they are a testament to the value of block space on Bitcoin, according to Nazar Khan, the co-founder and CEO of TeraWulf.

“Runes and Ordinals are demonstrating the value of block space… The Bitcoin network is the most decentralised, secure, and robust network that exists, so there will be use cases and value derived from that block space,” Khan stated in a recent interview. 

An exciting new era for Bitcoin.