Bitcoin Blockchain lacks meaningful activity on the chain, even when native, Bitcoin
Handles near a record price per Unit. It is, according to Mempool – a holding area of uncomfortable blockchain transactions waiting to be included in a block of miners.
On Satuday, Mempool had only 5,000 odd transactions waiting for inclusion, with support rising to 15,000 at the press time, still far from 150,000, as BTC’s price first rose over $ 100,000 at the end of 2024, according to Data Source Blockchain.com.
Since March this year, the mood has fluctuated between $ 3,000 and $ 30,000, indicating an anemical demand for the network despite BTC establishing a foothold over $ 100,000.
“Bitcoin’s Mempool (Queue of transactions waiting to be treated) is almost completely empty. The percentage of miner income coming from fees (instead of inflation) is down to a fraction of one percent, ”said Joël Valenzuela, director of marketing and business development, at X.
“In short, almost all of Bitcoin’s actual users have disappeared. At all times award heights!” Valenzuela added and called the situation a major crisis in which the network goes bankrupt or becomes “complete depot run by governments and institutions.”
According to Joao Wedson, CEO and founder of Crypto Data Analysis Platform Alphractal, Idle Mempool is a sign of lack of retail participation in the market.
“When Mempool transactions start to rise again, it’s a clear sign that retailing is back – because the growing backlog reflects increased demand for using the network,” Wedson said.
