Need to know what’s happening in crypto today? Here’s the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3, and crypto regulation.
A wallet with 687 BTC reawakened after 10 years of dormancy. Bitcoin completed its 1 billionth transaction — exactly 15 years, four months, and four days after its launch in January 2009. In other news, cryptocurrency venture capital investment surged in the first quarter, ending three consecutive quarters of declines.
Bitcoin address dormant in Satoshi era wakes up after 10 years
A dormant Bitcoin address dating back to the days when Satoshi Nakamoto was still active has revived after 10 years. On May 6, the Bitcoin wallet containing 687 BTC ($43.9 million) moved its holdings to two different wallets.
The wallet first transferred 625.43 bitcoins to an address starting with bc1qky, and the remaining 61.9 BTC was sent to bc1qdc. The flow of funds from very old wallets (especially from the Satoshi era) often arouses the curiosity of the crypto community.
The term "Satoshi Era" is associated with the early days of Bitcoin, when its pseudonymous founder, Satoshi Nakamoto, was active on online forums. Some Satoshi Era wallets are often speculated to be associated with Satoshi himself.
According to Fortune magazine, there are 1.75 million Bitcoin wallets that have been idle for more than a decade. Many of these wallets hold large amounts of BTC, which are estimated to have been purchased when the BTC price was trading in double digits and are currently worth millions of dollars.
These dormant wallets contain 1,798,681 bitcoins, worth about $121 billion at today’s prices.
Bitcoin transaction volume exceeds one billion
The Bitcoin network has processed its one billionth transaction, marking a major milestone 15 years after its creation.
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Other data shows that Clark Moody’s Bitcoin dashboard shows that transaction volume has reached 1,000,000,000, which was mined in block 842,241 at 9:34 pm UTC on May 5.
It has been 15 years, four months, and four days since Satoshi Nakamoto, the anonymous creator of Bitcoin (BTC), mined the network’s first block on January 3, 2009.
This means that in the 5,603 days of Bitcoin’s existence, there have been an average of 178,475 transactions per day.
Venture Capital Pours Billions into Crypto Startups
Venture capital investment in crypto startups surged in the first quarter as funding grew in sync with the bull market.
Venture capital firms invested $2.49 billion in blockchain and crypto startups between January and March, up 29%, according to Galaxy Research. A total of 603 deals were funded. Capital growth has fallen for three consecutive quarters.
Cryptocurrency financing value rises sharply in Q1 2024
“This was the first increase in both investment capital and deal count in three quarters, perhaps suggesting that the bottom had been reached in the fourth quarter of 2023, although continued quarter-over-quarter growth – and more meaningful growth – would confirm this in the coming quarters,” the report said.
Infrastructure startups accounted for 24% of the total funding, led by EigenLayer’s $100 million round. Web3 companies received 31% of the total funds raised.
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