Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Bitcoin Mempool Is 'Practically Empty'

Bitcoin Mempool Is 'Practically Empty'

U.TodayU.Today2025/02/03 04:11
By:U.Today

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.

However, as Loop points out, it does not seem like the people who are buying Bitcoin are withdrawing to self-custody. He has explained that the total number of unspent transaction outputs (UTXOs) has been "dropping like a rock," which indicates that fewer coins are getting spread across individual wallets.

Even though some interpreted Bitcoin's anomaly low fees, Bart Mol, the founder and host of the "Satoshi Radio" podcast, has adopted a rather alarmist tone,  arguing that the digital gold narrative is "slowly destroying the foundation of Bitcoin."

That said, Canadian Bitcoin developer Peter Todd believes that the low activity might be attributed to the growing popularity of the Bitcoin network. "Almost every transaction buying goods or services that I've done with Bitcoin in the past few years has been with Lightning. None of those show up in the blockchain," Todd said.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Meta Eyes Stablecoin Payments After Crypto Hiatus

Meta plans to integrate stablecoin payments into its apps, marking a return to crypto after three years.Why Meta Is Betting on Stablecoins

Coinomedia2025/05/09 14:00
Meta Eyes Stablecoin Payments After Crypto Hiatus

Best New Meme Coins to Invest in Now: Troller Cat Set to Jump 20% as Notcoin Holds Ground and Degen Surges

Troller Cat presale surges with ROI projections, while Notcoin and Degen trend in meme coin circles. Learn why these are the best new meme coins to invest in now..Unlocking Massive 69% APY Staking Rewards–Why Troller Cat Is One of the Best New Meme Coins to Invest in NowTelegram’s Favorite Token? Notcoin Climbs as Volume Jumps 13.5%$DEGEN Rally Accelerates With 76% Spike in Daily Trading Activity

Coinomedia2025/05/09 14:00
Best New Meme Coins to Invest in Now: Troller Cat Set to Jump 20% as Notcoin Holds Ground and Degen Surges