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CryptoQuant: Bitcoin On-Chain Activity Rises to Highest Level in Recent Years
Decrypt
4h ago
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CryptoQuant states that Bitcoin network activity has risen to a recent high, but the price of BTC remains in a clear correction phase.
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CryptoQuant reports that Bitcoin network transaction activity has been steadily rising since January 2026, recently reaching its highest level since late 2024. Meanwhile, the price of BTC is still down nearly 50% from its all-time high of $126,080.

Trading volume near record

According to the agency's statistics, both the total number of Bitcoin transactions and the average daily number of transactions are near all-time highs. CryptoQuant stated that this trend has continued for several weeks and is the first positive activity phase since mid-2024.

The proportion of small transactions is increasing.

CryptoQuant points out that there has been a significant increase in transactions below 0.01 BTC and below 0.001 BTC, with these two types of transactions accounting for approximately 80% of daily trading volume. In 2023, this proportion was approximately 44%.

Prices are still falling.

The agency views this change as an increase in "protocol-driven" activity, with many transactions related to Bitcoin NFTs and timestamping services. Despite the increased on-chain activity, BTC is currently trading at $63,865, down 17% over the past 30 days.

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