BlockBeats News, on February 7th, according to CoinDesk, the latest analysis by CryptoQuant shows that the Bitcoin Network Activity Index has fallen to 3760, a 15% decrease from the historical high in November 2024, reaching a new low in a year. This index comprehensively measures various indicators such as the number of active addresses, transaction volume, block size, and fees. The daily volume has dropped from a peak of 734,000 transactions to 346,000 transactions, a decrease of 53%; the unconfirmed volume in the Bitcoin mempool has dropped from 287,000 transactions in December 2024 to 3,000 transactions, a decrease of nearly 99%, reaching the lowest level since March 2022. The analysis points out that the decline in Bitcoin network activity is mainly due to a sharp decrease in the usage of Runes Protocol. The daily average usage has dropped from 802,000 times in April 2024 to the current 10,000 times. However, CryptoQuant analysts believe that the decline in network activity may not directly affect the Bitcoin price trend. Data shows a significant increase in the long-term accumulation of addresses, which has often indicated a rise in Bitcoin prices, reflecting market recognition of Bitcoin as an investment asset and store of value.
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Bitcoin network activity hits a new low in a year, while the long-term accumulated Addresses still show significant growth.
BlockBeats News, on February 7th, according to CoinDesk, the latest analysis by CryptoQuant shows that the Bitcoin Network Activity Index has fallen to 3760, a 15% decrease from the historical high in November 2024, reaching a new low in a year. This index comprehensively measures various indicators such as the number of active addresses, transaction volume, block size, and fees. The daily volume has dropped from a peak of 734,000 transactions to 346,000 transactions, a decrease of 53%; the unconfirmed volume in the Bitcoin mempool has dropped from 287,000 transactions in December 2024 to 3,000 transactions, a decrease of nearly 99%, reaching the lowest level since March 2022. The analysis points out that the decline in Bitcoin network activity is mainly due to a sharp decrease in the usage of Runes Protocol. The daily average usage has dropped from 802,000 times in April 2024 to the current 10,000 times. However, CryptoQuant analysts believe that the decline in network activity may not directly affect the Bitcoin price trend. Data shows a significant increase in the long-term accumulation of addresses, which has often indicated a rise in Bitcoin prices, reflecting market recognition of Bitcoin as an investment asset and store of value.