Bitcoin Active Addresses Fall to Lowest Level in a Year
According to The Block, Bitcoin activity has slowed considerably, dropping from over one million active addresses at its November 2024 peak to 660,000 amid waning Ordinals and Runes speculation.
BTC
Summary
Bitcoin network activity has fallen to a 12-month low, with the 7-day moving average of active addresses at 660,000, down from a peak of about 1.1 million in November 2024 during heightened Ordinals and Runes speculation. Transaction fees remain subdued, contributing to reduced miner revenue alongside lower block space demand. The decline highlights a cooling period in on-chain engagement compared to last year’s speculative surge.
Terms & Concepts
- Runes Transactions: Transactions involving Bitcoin's Runes protocol, which enables fungible token creation directly on the Bitcoin blockchain.
- Block Space Demand: The level of demand for available transaction capacity within a blockchain's blocks.