Bitcoin Transactions Hit Highest Since 2024—But Fees Remain Low
On-chain information exhibits the Bitcoin community exercise has seen a sudden rebound after months of staying down, with transactions hitting 615,000.
Bitcoin Transaction Count Has Reached The Highest Level Since November 2024
In a brand new thread on X, on-chain analytics agency CryptoQuant has mentioned the revival that the Bitcoin community exercise has witnessed just lately. CryptoQuant has cited its “Network Activity Index” to showcase the rebound. This index combines the info associated to totally different metrics like active addresses and transactions to offer an outline of the blockchain.
From the above chart, it’s seen that the Bitcoin Network Activity Index plunged beneath its 365-day shifting common (MA) again in late 2024 and remained in a downtrend throughout 2025. The trajectory continued into the primary quarter of 2026, however for the reason that onset of the second quarter, fates seem to have flipped for the indicator.
Not solely has the Network Activity Index managed to interrupt previous its 365-day MA, it has completed so in a pointy method, with its worth capturing up. The reversal within the indicator has come alongside a pointy surge within the complete variety of transactions occurring on the Bitcoin community.
As displayed within the graph, the 7-day easy shifting common (SMA) of the Bitcoin transaction rely was muted earlier, however a current sharp revival has meant that its worth has reached a high of 615,000. This is essentially the most quantity of transfers on the BTC blockchain since November 2024, when the exercise decline started.
Interestingly, whereas transactions have shot up, the total fees that Bitcoin miners are incomes on the community have stayed at low ranges.
The transaction charges can correlate with the demand for utilizing the community that exists amongst customers. The BTC blockchain solely has a restricted capability to deal with transfers, so in durations of community congestion, the common charges can blow up as senders compete in opposition to one another to get transfers by first. In distinction, when there isn’t a lot demand for getting strikes by rapidly, the charges can keep at low ranges.
The Network Activity Index means that the Bitcoin community has noticed a spike in utilization, however the charges staying low may suggest that the supply might not fully be natural demand, however somewhat a results of exchanges, custodians, and huge holders taking benefit of the present low payment competitors setting to make operational strikes like UTXO administration and pockets reshuffling.
BTC Price
Bitcoin recovered above $70,000 on Monday, however the coin has since retraced again to $69,000.
