Summary
- It was reported that transaction activity on the Bitcoin network dropped to the lowest level since October 2023.
- Despite Bitcoin's price remaining near its all-time high, a decline in transaction volume was observed.
- Some miners are focusing on low-fee transactions, with fees as low as $0.011 being recorded.
It has been observed that transaction activity within the Bitcoin (BTC) network has significantly decreased.
On the 8th (local time), the digital asset (cryptocurrency) media outlet The Block reported that, although Bitcoin's price is holding near its all-time high, the Bitcoin network's transaction volume last Friday was 317,000, marking the lowest level since October 2023 (269,000). On the 1st, only 256,000 block creations were recorded.
Meanwhile, with the sharp decline in Bitcoin network transaction activity, some miners are reportedly focusing on low-fee transactions. Mononaut Mempool founder shared on X (formerly Twitter), “Marathon Digital Holdings successfully mined a transaction at 0.1sat/vB,” and added, “The fee was only $0.011.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
