Bitcoin network transaction volume has dropped to a 12-month low, with rune transactions generating less than $20,000 in fees over the past 30 days

ChainCatcher news, according to data from The Block, the 7-day moving average of Bitcoin network transaction volume has dropped to 330,000 transactions, hovering near a 12-month low, which is a significant decrease of 55% compared to the historical peak of 730,000 transactions on the network.

The fees generated by Runes in the past 30 days have fallen to less than $20,000, while the fees generated on the day of Runes' release were $60 million. This indicates that the market has shifted speculative trading activities to other blockchain ecosystems.

According to Memepool data, as of the time of writing, the Bitcoin network transaction fees are reported at 3 Sats/s.