Key facts
- Bitcoin network activity has reached its highest point since 2024.
- Daily transactions on the Bitcoin network have exceeded 800,000.
- CryptoQuant attributes the surge in activity to low-value protocol transactions such as Ordinals, Runes, and BRC-20.
- The increase is not driven by economic demand, according to CryptoQuant.
Bitcoin network activity has surged to its highest level since the beginning of 2024, with daily transactions now exceeding 800,000. However, analytics firm CryptoQuant has stated that this increase is largely driven by low-value protocol activities, including Ordinals, Runes, and BRC-20 transactions, rather than a rise in economic demand for the cryptocurrency.