Data shows the latest selloff has caused the Bitcoin blockchain activity to come back to life after it had stayed muted for a while now.
Bitcoin On-Chain Activity Returns As The Selloff Continues
According to the latest weekly report from Arcane Research, the BTC transaction fees has observed a 17% uplift over the past week.
For the last few months, the Bitcoin on-chain activity had been quite subdued as fewer movements took place and the transaction fees remained low.
The “transaction fees” is the amount any investor has to attach with the transaction in order to complete the transfer.
Miners receive this fee in exchange of handling the transaction. Usually, they prioritize transactions with higher fees in order to maximize their revenues.
The value of the average Bitcoin transaction fee is variable as it depends on the specific network conditions at the time of the transfer.
When the mempool is clogged due to the network observing a high amount of transactions, the fees naturally...
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