Bitcoin number of transactions in the mempool hits highest for over 3 years
Definition
The total number of transactions waiting in the mempool in different size (vByte) cohorts.
Quick Take
- The number of transactions in the mempool has surpassed three-year highs
- Transaction count surpassed Ordinals hype, and Luna and FTX collapse, showing high transaction demand.
- This demand is most likely from the fallout of Silvergate and SVB; as banks are closed over the weekend, Bitcoin becomes the main asset for weekend use.
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Author: James Van Straten
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