Blockchain analysis reveals that the seven-day moving average of transactions on the Bitcoin network fell to approximately 317,000 on Friday, the lowest level since October 2023.
Surprisingly, this decline comes as BTC prices remain near all-time highs.
Data from YChart shows that only 256,000 transactions were processed on June 1, and miners are now accepting transactions with ultra-low fees to fill blocks.
Notably, Mempool founder Mononaut successfully processed a transaction at just 0.1 sat/vB through Marathon Digital's Slipstream channel, paying only 11 sats ($0.01) after waiting a month in the mempool.