Bitcoin Hits New Record – 731,000 Transactions on New Year’s Eve

Bitcoin reached a major milestone on New Year’s Eve. It managed to set a new record in the history of the network with more than 731,000 transactions processed in one day.

This jump came from the previous record, which was set on Christmas Eve 2023, of 723,459. This underlines Bitcoin’s growth over the past year and continued interest from users and investors during key moments such as the holidays.

At the time of writing this, BTC is trading at 45,814 USD. This is an increase of 7.7% compared to 24 hours ago, according to CoinMarketCap.

Bitcoin’s price has passed 45,000 USD, reaching its highest level since April 2022. This is accompanied by further increases in expectations due to the approval of spot Bitcoin ETF.

Investor enthusiasm has increased following a Reuters report suggesting the Securities and Exchange Commission (SEC) decision could come as soon as Tuesday, January 2.

According to Reuters, “the SEC could let issuers know as early as Tuesday or Wednesday that they are cleared to start next week,” according to sources “who spoke on background given the confidential nature of the talks.”

In addition to the record number of transactions, the 24-hour trading volume has also increased by 85%. This has brought it almost to the 30 billion USD mark.

Matrixport predicts BTC to reach 50,000 USD after ETF approval

The crypto financial service platform Matrixport has published an analysis predicting that the price of BTC will rise to 50,000 USD this month.

In their report, Matrixport attributes this rosy outlook to several key factors. These include the expected adoption of spot Bitcoin ETFs, growing institutional investment momentum and historical market patterns.

Tether’s Bitcoin holdings are rising

The issuer of the stablecoin USDT, Tether, has also followed the trend, becoming BTC tenth largest address holder.

BitInfoCharts has updated recent data showing that on January 1, Tether withdrew 8,888.88 Bitcoins worth approximately 407 million USD (calculated based on current rates) from the crypto exchange Bitfinex.

Tether currently owns 66,465.25 BTC and has benefited 1.365 billion USD from the price change. The total value of the holdings is more than 3 billion USD.

Other Crypto with High Potential

With Bitcoin poised to soar big, it’s likely that other cryptos will rise along with it. An attentive investor will always spread his chances over several options.

The Cryptonews team is constantly monitoring presale crypto and ico crypto. Based on our own analyses, we have put together a list of top cryptos for 2024.

Crypto exchanges with the lowest fees 2024