- Bitcoin starts the week trading above $65,000, marking a positive start for the cryptocurrency market.
- The global cryptocurrency market capitalization is currently at $2.5 trillion, showing a 1.3% gain in the past day.
- Bitcoin’s network has now processed over 1 billion transactions, with Runes becoming the main driver behind the growing daily transactions.
Bitcoin begins the week on a high note, trading above $65,000, and the global cryptocurrency market capitalization is at $2.5 trillion. The Bitcoin network also celebrates a milestone, having processed over 1 billion transactions.
Bitcoin’s Positive Start to the Week
Bitcoin started Monday trading above $65,000 for the first time in more than a week. Although it has retraced slightly, it is still 0.5% higher than it was this time yesterday. This positive trend has also reflected in the rest of the crypto market. Early Monday morning, the global cryptocurrency market capitalization was at $2.5 trillion, having gained 1.3% in the past day, according to CoinGecko data.
Bitcoin Network Milestone
The Bitcoin network has now processed more than 1 billion transactions. This milestone was largely driven by the newcomer, Runes, which has become the main driver behind the growing daily transactions. Runes, a protocol built on top of Bitcoin, has been described as a project that picks up where BRC-20 tokens left off, introducing NFT-like assets to the network. It has ushered in a new era of fungible tokens on Bitcoin, contributing to the increase in daily transactions.
Noteworthy Bitcoin Developments
Over the weekend, there were a few other noteworthy Bitcoin developments. A 13-year-old wallet that’s held 687 Bitcoin since it was trading for $2 moved its stash. The reason behind this move is unclear, but traders often interpret such actions as a positive sign when someone who could have sold at any time held onto their BTC for so long. “The owner of the wallet hodled all the way from $2 to 65,000,” Bitgrow founder Vivek Sen wrote on Twitter. “What a legend!”
Conclusion
The week has started positively for Bitcoin and the global cryptocurrency market. With Bitcoin trading above $65,000 and the global market capitalization at $2.5 trillion, the market is showing signs of strength. The Bitcoin network also celebrated a significant milestone, having processed over 1 billion transactions. These developments indicate a positive outlook for the cryptocurrency market.
