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Crypto News

Bitcoin’s Record 682,281 Transactions in a Day Make 2023 a Year of Increased Activity

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

bitcoin

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The Bitcoin network processed the most confirmed transactions per day ever amid a year of historic milestones. 682,281 transactions occurred on May 1, 2023. Ordinal inscriptions on the Bitcoin blockchain sparked this unusual activity in April.

Bitcoin’s popularity and technology have risen tremendously since 2009. The network broke its transaction record in 2023. 682,281 transactions were verified on May 1, 2023.

From April 2, 2023, transactions started rising. This sparked a year of increasing activity. Ordinal inscriptions on the Bitcoin blockchain have caught the interest of fans, BRC20 dealers, and non-fungible token (NFT) collectors, driving much of the growth.

On January 1, 2023, 187,516 transactions set a new annual low. This year’s low and high points show Bitcoin’s dynamic character. Growth is not limited until 2023. Over the past 14 years, confirmed transactions per day have increased steadily.

The median daily transaction average was 91 in 2009 and 508 in 2010. The average rose to 5,210 in 2011, then 23,096 in 2012. In 2013, 53,817 people visited each day, while in 2014, 69,216 did. 2015 had 125,134 verified transfers, 2016 had 225,756, and 2017 had 285,105.

However, 2018 saw a drop to 223,002 daily transactions. 2019 returned to 328,174, while 2020 dropped to 307,523 and 2021 plummeted to 267,935 transfers. 2023 has already surpassed 2022’s daily average of 255,086 confirmed transactions with 378,833.

Ethereum, the second-largest blockchain project by market valuation, processes more daily transfers than Bitcoin. Ethereum’s daily confirmed transactions peaked at 1,932,711 on December 9, 2022. May 5, 2023 saw 1,208,777 confirmed Ethereum transactions. Ethereum’s daily transfer count in 2023 has not yet eclipsed the fifth-highest record, set on May 13, 2022, with 1,342,405 transactions.