🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Share your story on Gate Square, and embrace the next 30 million together!
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'Mempool' of Bitcoin is almost empty as the price approaches its all-time high.
The Bitcoin Blockchain is currently lacking meaningful activity, even though the price of Bitcoin is nearing a record level. According to the mempool – the area containing unconfirmed transactions, there are only about 5,000 transactions waiting to be processed on Saturday, rising to 15,000 but still well below the 150,000 transactions when the price of Bitcoin surpassed 100,000 USD at the end of 2024. Since March of this year, the number of transactions has fluctuated between 3,000 and 30,000, indicating weak demand despite Bitcoin holding steady above 100,000 USD.
Joël Valenzuela, the marketing director, stated that most users have actually left the network, even at the all-time high price. Joao Wedson, CEO of Alphractal, believes that the lack of transactions in the mempool is a sign that retail investors are not participating in the market.