The CryptoQuant Network Activity Index for Bitcoin, which measures network usage, has dropped by 15% since November 2024, reaching its lowest level in over a year. This decrease can largely be attributed to a significant drop in Bitcoin transactions, with daily transactions falling by 53%. The reduced activity of the RUNES protocol has played a major role in this decline. The slowdown is also evident in the Bitcoin mempool, which tracks unconfirmed transactions waiting to be added to the blockchain. With network usage at such low levels, there are concerns that Bitcoin's current price of $99,000 may be inflated. The diminished network activity could indicate a period of adjustment for the token as interest in protocols like RUNES decreases. Investors will likely keep an eye on network activity trends as an indicator of Bitcoin's strength.



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