Bitcoin On-Chain Transactions Don Hit 18-Month Low As Ordinals, Runes Cool and Slipstream Dey Emerge
Bitcoin on-chain transactions don drop reach 18-month low, di seven-day average gats drop from over 700,000 for early 2024 to about 350,000 each day. Dis decline follow wan decrease interest for NFT protocols Ordinals and BRC-20 standard Runes wey generate 15.6 million transactions and $162 million fees in four months. Average fees don drop below $1.50, wey make block competition reduce but e squeeze miner revenue after halving. To catch low-fee demand, miner pool MARA launch Slipstream wey allow 1 sat/vB transactions to bypass node-relay policies. Dis move cause debate among Bitcoin Core developers about network health and censorship resistance. Lower fees benefit everyday users but e force miners to rely mainly on block rewards. Traders gats watch for renewed Ordinals or Runes activity, data-limit changes, or Layer-2 solutions as possible catalysts for next increase for Bitcoin transaction volume and fees.
Neutral
Di decline wey dey happen for Bitcoin on-chain transactions plus fees na means say speculative NFT protocols just dey cool down for now, e no mean say demand for BTC don change sharply. Even though lower fees dey make transfer cheaper, miner income don drop since halving, so dem need block rewards more. Slipstream come give small kind solution but e no go fit make up for the general loss in fee income. For short term, traders fit no see strong network-driven push for price movement. For long term, if protocols start to dey active again or Layer-2 grow, fee market fit come back, but until den, network use cycles go just cause neutral price effect.