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Something banks cannot do; clear on weekends, as Bitcoin transactions hit record numbers over weekend

March 12, 2023

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Definition

The total number of transactions waiting in the mempool in different size (vByte) cohorts.

Quick Take

The number of transactions in the mempool has surpassed three-year highs
Transaction count surpassed Ordinals hype, and Luna and FTX collapse, showing high transaction demand.
This demand is most likely from the fallout of Silvergate and SVB; as banks are closed over the weekend, Bitcoin becomes the main asset for weekend use.

Mempool number of transactions by cohort: (Source: Glassnode)

The post Something banks cannot do; clear on weekends, as Bitcoin transactions hit record numbers over weekend appeared first on CryptoSlate.

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