What's up, guys! Ready for today's crypto gossip? Well, hold on, because things with Bitcoin have gotten a bit slack, and it's no wonder! It turns out that the transaction volume, that is, the amount of movements being made with this cryptocurrency, has dropped to its lowest level in a year and a half! 😱 It's like people suddenly dialed down the Bitcoin excitement.
Imagine that before, in mid-2024, Bitcoin was going crazy, making more than 700,000 transactions daily. Crazy! But now, it's down to a sad 350,000 transactions per day. That's to say, it has reduced by half! And last week, the average dropped even further, to 316,000. We haven't seen this since late 2023!
And why this drop in score? Well, experts say it's because people are losing interest in those things like Runes and Ordinals. Remember those protocols that were introduced like a speculative fever to Bitcoin, bringing functions similar to those of Ethereum, like NFTs and the creation of new tokens? Well, it seems that people are not using them as much anymore. The truth is that now they are more interested in other blockchains that already have all that integrated and make life easier. It's like Bitcoin is a classic car, and now people want the latest model with all the bells and whistles! 🚗💨
With fewer people using the network, transaction fees have also plummeted, falling below $1.50 since January! This means there's not much demand for the "space" in the Bitcoin network, and the currency is returning to its original function: being a platform for moving money, without all the fuss.
But it doesn't stop there. Since the fees are so low, some users are trying to make transactions with super ridiculous fees, almost nothing! And the mining company MARA got its act together and launched a service called "Slipstream" to handle those penny transfers. It's like a shortcut for those "cheap" transactions to reach their destination.
Of course, this move by MARA has generated a tremendous debate in the Bitcoin community. Developers are on high alert, worried that this could lead to censorship or that the principles of network neutrality could be lost! It's a serious matter, huh?
So, stay alert with Bitcoin! Its low activity is a reflection of what's happening across the entire crypto market. Will it need to reinvent itself to reignite the spark? 🔥 Stay tuned to see how this soap opera unfolds!$BTC $ETH $
