Bitcoin Network Activity Hits 2024 High, Driven by Low-Value Protocol Transactions: CryptoQuant
Daily Bitcoin transactions have surpassed 800,000, reaching the highest level since 2024, according to a research note published by CryptoQuant last week. The network activity index has climbed to within 7% of its all-time high and has sustained an above-trend reading for several weeks. CryptoQuant attributed the surge to protocol-driven activity rather than economic demand, describing the rise as the first positive activity regime since mid-2024. The increase contrasts sharply with Bitcoin’s ongoing bear market price decline, the firm noted.
Divergence Between Transaction Volume and Economic Value
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