Catenaa, Friday, June 27, 2025-Daily Bitcoin transactions have dropped to their lowest levels in a year and a half, with recent activity averaging around 350,000 transactions per day, down sharply from a peak of over 700,000 recorded in mid-2024.
Analysts attribute the decline to waning interest in Bitcoin-native protocols such as Runes and Ordinals, which had driven a speculative surge in network activity.
The seven-day moving average of transactions fell to 316,000 last week, marking the lowest sustained activity since late 2023.
The dip follows a broad shift in trader attention toward other blockchains offering built-in support for tokenization and decentralized applications, unlike Bitcoin’s more limited native functionality.
Runes and Ordinals, which introduced Ethereum-style features like NFTs and token minting to Bitcoin, have seen significant drops in usage. As a result, transaction fees have consistently remained below $1.50 since January, reflecting reduced demand for block space and a return to Bitcoin’s original focus as a monetary settlement layer.
The slump has prompted some users to attempt substandard transactions below Bitcoin Core’s relay minimum of 1 Satoshi per virtual byte. Mining firm MARA has responded by launching a “Slipstream” service to handle these ultra-low-fee transfers, sidestepping standard node restrictions.
This move has sparked debate within the Bitcoin community, with developers raising concerns over potential censorship and deviation from the network’s neutral transaction principles.
Bitcoin’s declining activity is being closely monitored as it reflects broader shifts in market sentiment and utility across blockchain ecosystems.
