After 3935 Days 18 Millionth Bitcoin is successfully Mined
It is a time of celebration for the crypto community as miners have reached a milestone by mining the 18 Millionth Bitcoin.
Since the introduction of Bitcoin, this is the 18 Millionth Bitcoin that is mined till date. And it took the miners about 3935 days to hit this milestone.
Showing its support in a way, Glassnode shared some insights on this victory.
In the tweet by this on-chain market intelligence platform, it highlights the below points:
- 18 million BTC on-chain volume reached in 654 days
- $18 million USD volume reached in 828 days
- $18 million in market cap reached in 841 days
- $18 million USD on-chain volume in one day reached in 880 days
- 18 million on-chain volume in Bitcoin in one day reached in 1336 days
- 18 million transaction outputs formulation completed in 1370 days
- 18 million formulated transaction outputs spent in 1409 days
- 18 million on-chain transactions reached in 1589
- 18 million network addresses reached in 1710 days
- $18 million in mining fees paid by the network in 2880 days
- 18 million addresses holding a positive balance reached in 3094 days
The chart in the tweet communicates various aspects of this 18 million target achieved by Bitcoin Miners. It shows how long it took to complete the 18 million- on-chain transactions, reached in mining fees, market cap and more.
The lowest bar indicated that out of all the 18 Millionth milestones, it took the most time to mine 18 Million BTC i.e. 3935 days.
Having said that, it is a known fact that Bitcoin is a limited coin crypto with only 21 million Bitcoins that will be mined. After reaching hitting this mark, there are only 3 million BTCs that remain to be mined.
Considering the market sentiment that Bitcoin will see its next halvening soon, there is speculation as to what will happen when the last Bitcoin is mined.
The difficulty for miners to mine the remaining BTCs will be a time consuming and less rewarding task from now on. The same is currently happening to the other altcoins as well. More efforts and time will be utilized by the miners at a lesser amount of rewards.
What do you think about these stats shared by the different 18 Millionth achievements of Bitcoin? Share your views in the comment section below.