Glassnode – Bitcoin Demand Slowly Coming Back After Months of Decline
Data from Glassnode showing Bitcoin demand coming back after being on the decline
Glassnode: Bitcoin Demand Is Slowly Coming Back After Months Of Decline
“According to the latest weekly report from Glassnode, the BTC network has been observing a small, but sustained surge in activity recently.
The ‘Mempool’ is a (virtual) place where Bitcoin transactions that are yet to be confirmed stand still, waiting to be processed by the miners.
When the Mempool has a large size, it means there are many pending transactions on the network right now. This can hint that the chain is viewing high activity currently.
An indicator from Glassnode is the ‘Mempool total amount of coins,’ which measures how much BTC is inside the Mempool at the moment.
Rises in this metric can suggest there are larger transactions and/or a higher number of them taking place on the Bitcoin blockchain currently.”