FameEX Hot Topics | Bitcoin Achieves Record 703,000 Transactions in a Single Day as Demand Surges

The Bitcoin blockchain has been experiencing a significant surge in ordinal inscriptions, recently surpassing an impressive 33 million in total. Moreover, a historic milestone was reached on September 15, 2023, when the Bitcoin network set a new record by validating a remarkable 440,760 inscriptions in a single day, out of a total of 703,692 transactions confirmed that day. This historic achievement occurred on Friday, September 15, 2023, when the Bitcoin blockchain processed the highest number of transactions ever confirmed in a single day. A staggering 703,692 transactions were successfully validated by miners, surpassing the previous record set on May 1, 2023, when 682,281 transactions were processed on the Bitcoin blockchain.

What makes this milestone even more remarkable is the dominance of ordinal transactions on that specific day, accounting for an impressive 62.63% of the day's overall activity. According to data from Dune Analytics, a total of 440,760 ordinal inscriptions were confirmed on September 15, surpassing the prior record set on July 30, 2023. As of the current block height, which stands at 808,443, there are approximately 33,355,450 ordinal inscriptions on the Bitcoin blockchain. Notably, Bitcoin miners have earned a substantial 2,068 BTC from these inscriptions, equivalent to $55 million, since December 2022.

The upward trend in ordinal inscriptions shows no signs of slowing down. On September 16, 2023, the blockchain processed 381,189 inscriptions, followed by 419,147 inscriptions the next day. September 18 witnessed approximately 402,535 inscriptions, and as of the current Tuesday, 175,126 transactions have already been confirmed. These statistics highlight the increasing prominence of ordinal inscriptions compared to traditional financial transactions, as they compete for valuable block space on the Bitcoin blockchain. It's worth noting that the Bitcoin blockchain currently faces a backlog of approximately 481,574 unconfirmed transactions, as recorded at block height 808,443.