Bitcoin’s network activity has significantly decreased, with transaction numbers dropping to around 350,000 daily from peaks of over 700,000 earlier.
The fading interest in Runes and Ordinals, which encouraged NFT-like assets on Bitcoin, has prompted traders to pivot to platforms like Ethereum and Solana for their advanced functionalities.
With average transaction fees below 1.50 USD, there is a return to Bitcoin’s core purpose. Without new catalysts like Layer-2 solutions, activity may remain subdued.
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