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Bitcoin Mempool Is 'Practically Empty'

Julio Moreno, head of research at CryptoQuant, has noted that Bitcoin's mempool, a queue of pending transactions, is "practically empty." Bitcoin's transaction activity has now plunged to its lowest level since last March. Meanwhile, Bitcoin fees have now plunged to just 1 sat/vB.

Casa co-founder Jameson Lopp has stated that the empty mempool signals that the "sovereign usage" of the flagship cryptocurrency is "extremely low." Some commentators have attributed the anemic activity to the "hodl" mentality that is pervasive within the community: Instead of spending their holdings, some users choose to stack sats to wait for price appreciation.

Bitcoin Mempool Is 'Practically Empty'

Julio Moreno, head of research at CryptoQuant, has noted that Bitcoin's mempool, a queue of pending transactions, is "practically empty." Bitcoin's transaction activity has now plunged to its lowest level since last March. Meanwhile, Bitcoin fees have now plunged to just 1 sat/vB.

Casa co-founder Jameson Lopp has stated that the empty mempool signals that the "sovereign usage" of the flagship cryptocurrency is "extremely low." Some commentators have attributed the anemic activity to the "hodl" mentality that is pervasive within the community: Instead of spending their holdings, some users choose to stack sats to wait for price appreciation.

https://u.today/bitcoin-mempool-is-practically-empty