On-chain activity increases, but is still extremely low
We see a significant increase in Bitcoin's on-chain activity after the drowsy August, but it's still at very low levels historically.
Sep 5th 2022
As we pointed out last week, Bitcoin's on-chain activity was very low at the end of August. Over the past seven days, we have seen an upswing in on-chain activity, as indicated by a surge in active addresses from the bottom of 880k one week ago to 925k.
With more users making on-chain transactions, we also see a 23% increase in the daily transaction volume. This higher demand for transacting has naturally led to a 32% surge in daily fees, now at $277k.