Transaction counts on the Bitcoin network reach near-record highs despite BTC’s price decline, with small-value transfers dominating activity.
Bitcoin network activity has climbed to levels last seen in late 2024, with transaction counts nearing all-time highs. The rise occurs as BTC trades nearly 50% below its peak of $126,080, defying the ongoing bear market in price terms.
Data shows daily average transactions are now just 7% below the record set in September 2024. However, the economic value of these transactions remains low, with transfers under 0.01 BTC and 0.001 BTC accounting for 80% of activity, up from 44% in 2023.
The trend marks the first sustained increase in network activity since mid-2024, contrasting with the asset’s price decline. Prior to this, transaction counts had been contracting since December 2024.