Bitcoin Transactions Under 0.01 BTC Climb to 80% of Total, CryptoQuant Says
Summary
- CryptoQuant said transactions of less than 0.01 BTC now account for about 80%% of all Bitcoin transactions.
- It said that represents a sharp increase in the share of small transactions compared with 2023, when the figure was below 50%%.
- CryptoQuant said rising demand for Runes and Ordinals, along with a surge in OP_RETURN usage, is driving broader Bitcoin network usage.
Forecast Trend Report by Period
Small Bitcoin transactions are accounting for a sharply larger share of activity on the network.
CryptoQuant wrote on X on June 18 that transfers of less than 0.01 BTC now make up about 80% of all Bitcoin transactions.
That is a sharp increase from 2023, when the share was below 50%.
CryptoQuant said the shift was driven mainly by rising demand tied to Runes and Ordinals.
Use of OP_RETURN, which is used to record data on the Bitcoin blockchain, has also risen to near a record high.
CryptoQuant said the recent increase in transactions reflects broader network usage rather than large fund transfers.
Market participants say on-chain activity is rising as growth in the Ordinals and Runes ecosystems broadens the range of use cases on the Bitcoin network.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
