Recent data from CryptoQuant reveals a notable increase in Bitcoin microtransactions, which have become the major influence on network activity. Currently, transactions involving less than 0.01 BTC represent around 80% of all daily transactions, a substantial rise from approximately 44% earlier this year.
Despite the total number of transactions reaching historical highs both daily and quarterly, analysts emphasize that the economic impact of these transactions remains relatively minimal. They suggest that while activity is up, the financial value of these transactions does not reflect this increase.
Moreover, the use of the OP_RETURN code has surged, correlating with the growing popularity of Bitcoin fungible tokens, Ordinals inscriptions, and various data recording services. As a consequence, operations in Bitcoin's mempool have soared, peaking at 128,000—marking the highest level since February 2025. This surge has led to increased congestion, especially among lower-fee transactions.
