The Bitcoin Network was momentarily empty

While cryptootics reviewed the status of the Bitcoin Network, there was a moment of unusual inactivity, according to recent data extracted from Mempool.Space, a platform that monitors the state of transactions in the network created by Nakamoto.

At that time, the Mempool, which reflects the transactions waiting for confirmation, was practically empty, and the commissions by transaction fell to minimum levels, which suggests that Very few users They were using bitcoin to transfer value.

So low levels of activity, although not very common, have been reported by recently cryptootics, when on April 1 the miners of this network were processing several almost empty blocks during that day.

An empty mempool: the clearest signal of low activity

A more detailed analysis of the Mempool of Bitcoin revealed that only 154 transactions were waiting for confirmation, with an accumulated value of just 0.003 BTC (Approximately USD 240), indicating that users are transferring minimal amounts of value through the network. This can be seen in the following image extracted from Mempool.Space.

Although the image does not specifically break down the rates of these 154 transactions, these pending operations had very low rates, with ranges that predominate between 0 sat/vB y 2 sat/vBreflecting a lack of transactional pressure on the network.

In turn, the most recent block, at height 891784 and mined by Antpool, offers more clues about this situation. This block included nothing more than 46 transactionswith a rank range that ranged between 0 and 10 SAT/VB and a medium rate of approximately 0 sat/vb, equivalent to USD 0.00.

The total commissions collected by this block were approximately 0.00036 BTC, a value so small that the Mempool interface.

Minimum commissions: no competition for space in the blocks

Another key indicator of low activity in the Bitcoin Network is the level of transaction commissions. In a system where miners prioritize transactions that pay higher rates to include them in the blocks, the commissions are usually a direct reflection of the demand for space in the network.

Currently, rates are at their lowest possible level. According to Mempool. equivalent to $ 0.11. The same goes for transactions with medium priority, low and even without priority: all are located in 1 SAT/VB, a value that represents the practical minimum in the network.

This phenomenon has a simple technical explanation: there is no competition for space in the blocks. In times of high demand, users usually increase rates so that their transactions are processed more quicklywhich raises the average cost of the commissions.

However, when the rates are maintained in 1 SAT/VB even for high priority transactions, as happened while cryptootics reviewed the Mempool, it is an unequivocal sign that the Blocks have plenty of space and that miners do not have incentives to prioritize some transactions over others.

The activity on-chain Bitcoin then resumed his usual course

Despite the low activity recorded during block 891784 with only 46 transactions and that at the same time that cryptootics reviewed the status of Mempool there were only 154 transactions on hold, then Bitcoin replaced a usual rhythm.

In fact, the following block, the 891785, ended up being minted with More than 3,000 transactionsan amount equivalent to the average per block, and a total of rates of 0.074 BTC, just over 6,000 USD at that time.

In conclusion, Mempool data reflected a time when Bitcoin was little used to transfer value. Although that does not compromise the functionality of the network and could be a momentary phenomenon, Bitcoin’s narrative as a reserve of value grows as this asset is adopted by individuals, large corporations, institutions and governments, which could eventually mitigate everyday activity in that ecosystem.