Bitcoin's blockchain shows its strongest activity since late 2024, driven by a surge in small transactions even as the price remains under pressure.
CryptoQuant reported that its Bitcoin Network Activity Index has moved above its long-term trend for the first time since mid-2024. The index reached its highest level since late 2024 and stands only about 7 percent below the record set in September 2024.
Daily Bitcoin transactions have risen above 800,000 at points in 2026. Transactions worth less than 0.01 BTC now make up about 80 percent of daily counts, up from 44 percent in 2023. Much of the increase stems from OP_RETURN usage tied to Runes, Ordinals, and similar data services.
The mempool holds around 128,000 unconfirmed transactions, the highest since late February 2025. Average fees remain low, recently near 27 cents, with daily fees at 3.458 BTC on June 18.
Bitcoin's price has fallen about 30 percent this year to below $65,000, extending a decline of more than 50 percent from its late-2025 peak near $126,000.
