Bitcoin Transaction Volume Plummets to 12-Month Low: What It Means for the Future of Crypto

As reported on February 15th by COINOTAG, recent statistics from The Block have revealed that the 7-day moving average of Bitcoin’s network transaction volume has significantly decreased to approximately 330,000 transactions. This figure is alarmingly close to a 12-month low, representing a 55% decline from the network’s historical peak of 730,000 transactions. Furthermore, the revenue generated by Runes has dwindled to under $20,000 in the past month, a stark contrast to the $60 million generated on its launch day. This sharp decline suggests a notable shift in market sentiment, as speculative trading appears to be migrating to alternative blockchain ecosystems. Lastly, current data from Memepool indicates that the transaction fee on the Bitcoin network is now at a mere 3 Sats/s, highlighting the evolving landscape of cryptocurrency transactions.