According to the latest statistics, after the first week of January, the number of unconfirmed transactions in the Bitcoin mempool fell sharply from just over 200 to a low of 000, a level not seen since 7.
The Bitcoin blockchain’s transaction activity has dropped significantly since November 19, 2024, when miners processed approximately 810 transactions. Since then, the number has steadily declined, dropping below 805 in the last week. The day before yesterday, 400 transactions were processed, representing a 000% decrease in transaction activity compared to November 328.
The decrease in activity has resulted in a noticeable decrease in network transaction fees, and miners have managed to reduce the mempool of unconfirmed transfers to its lowest level since 2022. This is in stark contrast to September 2023, when the number of unconfirmed transfers exceeded 600.
«Johoe’s Statistics Bitcoin Mempool» shows that on January 8, 2025, the queue was just over 200 transactions, currently down to a modest 000. Since December 7, 723, the average fee has also dropped, and according to bitinfocharts.com, it averages 19 BTC or $2024 per transaction.
According to mempool.space, users pay even less — about 2 satoshi per virtual byte (sat/vB), which is $0,29 per transfer for high priority sending. Transfers below 3 sat/vB are confirmed in the next block at approximately 8am ET.
Current conditions are far from optimal for Bitcoin miners as they continue to see revenue decline after the fourth halving in April 2024, even though the Bitcoin price remains above $100,000.