Something strange is happening with Bitcoin: while prices remain high, the network has gotten unusually quiet.
Transaction levels haven’t been this low since last October, with some days seeing fewer than 300,000 transactions. So quiet, in fact, that miners are now processing payments with absurdly low fees – like one transaction that paid just a penny after sitting around for a month.
As Mempool’s Mononaut joked, their ultra-cheap transaction was “lovingly carved from the finest hexadecimal characters.” Is this the calm before the storm, or is something more fundamental changing?
