Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

2025-05-18

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

2025-05-18

Solana – Shorts are piling up above $ 170 – Can Sol Bulls force a pinch?

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin: What Rising Network Activity Means for BTC Price Prediction
Bitcoin

Bitcoin: What Rising Network Activity Means for BTC Price Prediction

2023-12-10No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

  • Over the past week, activity on the Bitcoin network has increased.
  • This has resulted in a 61% increase in total reimbursements over that period.

The Bitcoin [BTC] network saw an increase in activity last week, leading to a 61% increase in total transaction fees, on-chain company IntoTheBlock noted in a post on X.

Activity on the chain surged this week, with Bitcoin fees rising more than 60% and Ethereum fees rising nearly 50%. pic.twitter.com/H2kFC6iQge

— IntoTheBlock (@intotheblock) December 8, 2023

According to the data provider, transaction fees recorded during the week amounted to $43.8 million.

The BRC-20 hype had this impact on the Bitcoin network

The increase in activity is due to the double-digit increase in the value of BTC during the week and the recent increase in the adoption of BRC-20 tokens and text-based inscriptions on the Bitcoin network.

At the time of writing, BTC was trading at an 18-month high of $44,261. According to data from the past week, the value of the coin has increased by 14% CoinMarketCap.

This is due to growing demand for the leading coin, whose price has soared to new highs. The coin’s network activity increased as many turned to BTC to take advantage of the price growth.

There was also a lot of interest in BRC-20 tokens on the BTC network last week. During the week, for example, meme coin Ordi [ORDI] became the first BRC-20 token to surpass $1 billion in market capitalization.

Likewise, the price reached an all-time high of $63 during the same period.

See also  Bitcoin Reserve Law has been hired in New Hampshire: will other states follow?

The high activity around BRC-20 tokens during the week caused the Bitcoin network to become congested with unconfirmed transactions, clogging the meme pool.

As of December 6, data from mempool.space showed that the memory pool, the temporary storage space for ongoing transactions, reached 1.54 GB, a level significantly above the 300 MB capacity.

Furthermore, average transaction fees on the blockchain rose during the week to the highest level since April.

According to data from December 6, network users paid an average of $19.48 in transaction fees BitInfoCharts. However, this has fallen in the last three days to $16,189 at the time of writing.


Read Bitcoin’s [BTC] Price forecast 2023-24


Futures market participants maintain bullish sentiment

Open interest has continued to rise in the coin futures market. At $19.7 billion at the time of writing, BTC open interest was at its highest level since April 2022.

The increase in open interest means more traders are entering the market and opening new positions.

Source: Coinglass

Likewise, the OI-weighted funding rate continues to yield positive values. This shows that more traders are taking long positions and betting that the price of BTC will rise further.



Source link

activity Bitcoin BTC means Network Prediction Price Rising
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

2025-05-18

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

2025-05-18

Data tips on chains Bitcoin to peak at $ 120,000

2025-05-18

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

2025-05-18
Add A Comment

Comments are closed.

Top Posts

Thailand launches crypto regulatory sandbox to kick off adoption

2024-08-09

Proof-of-stake blockchain XION introduces a native utility token

2024-08-15

Does Korea send the XRP price? Pundit explains what happens

2025-04-05
Editors Picks

Five Ones to watch in June 2023

2023-06-05

BMW Motorrad introduces MetaRide VR platform

2023-07-13

Bitcoin Cash (BCH) Up 55% After BlackRock’s ETF Filing, EDX Markets Launch

2023-07-01

Tornado Cash Developer Asks for Support Ahead of Trial That Could Set a ‘Major Precedent’ for Crypto

2024-01-23

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

Solana – Shorts are piling up above $ 170 – Can Sol Bulls force a pinch?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,606.620.30%
  • ethereumEthereum(ETH)$2,386.64-3.69%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.35-0.25%
  • binancecoinBNB(BNB)$639.31-0.51%
  • solanaSolana(SOL)$165.59-0.82%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2199831.91%
  • cardanoCardano(ADA)$0.73-1.34%
  • tronTRON(TRX)$0.262935-3.19%
  • suiSui(SUI)$3.760.35%
  • chainlinkChainlink(LINK)$15.17-1.41%
  • avalanche-2Avalanche(AVAX)$21.93-1.33%
  • stellarStellar(XLM)$0.282146-1.60%
  • hyperliquidHyperliquid(HYPE)$25.94-1.73%
  • shiba-inuShiba Inu(SHIB)$0.0000140.48%
  • hedera-hashgraphHedera(HBAR)$0.189895-0.81%
  • unus-sed-leoUNUS SED LEO(LEO)$8.650.32%
  • bitcoin-cashBitcoin Cash(BCH)$392.33-1.08%
  • the-open-networkToncoin(TON)$3.05-0.60%
  • litecoinLitecoin(LTC)$97.230.80%
  • polkadotPolkadot(DOT)$4.56-1.22%
  • moneroMonero(XMR)$341.520.69%
  • bitget-tokenBitget Token(BGB)$5.122.00%
  • pepePepe(PEPE)$0.0000135.31%
  • daiDai(DAI)$1.00-0.02%
  • piPi(PI)$0.731.63%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$5.770.45%
  • bittensorBittensor(TAO)$404.99-4.21%
  • aaveAave(AAVE)$217.82-1.24%
  • nearNEAR Protocol(NEAR)$2.700.34%
  • okbOKB(OKB)$52.21-1.71%
  • aptosAptos(APT)$4.95-2.30%
  • ondo-financeOndo(ONDO)$0.91-0.99%
  • kaspaKaspa(KAS)$0.108693-0.37%
  • internet-computerInternet Computer(ICP)$5.09-1.14%
  • ethereum-classicEthereum Classic(ETC)$17.81-1.75%
  • gatechain-tokenGateToken(GT)$21.50-0.58%
  • crypto-com-chainCronos(CRO)$0.096210-1.11%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.770.60%
  • mantleMantle(MNT)$0.730.53%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232123-0.23%
  • vechainVeChain(VET)$0.027650-0.37%
  • render-tokenRender(RENDER)$4.47-1.37%
  • usd1World Liberty Financial USD(USD1)$1.000.02%
  • ethenaEthena(ENA)$0.3645650.98%
  • algorandAlgorand(ALGO)$0.2172340.70%
  • filecoinFilecoin(FIL)$2.78-0.39%
  • cosmosCosmos(ATOM)$4.720.05%
  • bitcoinBitcoin(BTC)$103,606.620.30%
  • ethereumEthereum(ETH)$2,386.64-3.69%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.35-0.25%
  • binancecoinBNB(BNB)$639.31-0.51%
  • solanaSolana(SOL)$165.59-0.82%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2199831.91%
  • cardanoCardano(ADA)$0.73-1.34%
  • tronTRON(TRX)$0.262935-3.19%
  • suiSui(SUI)$3.760.35%
  • chainlinkChainlink(LINK)$15.17-1.41%
  • avalanche-2Avalanche(AVAX)$21.93-1.33%
  • stellarStellar(XLM)$0.282146-1.60%
  • hyperliquidHyperliquid(HYPE)$25.94-1.73%
  • shiba-inuShiba Inu(SHIB)$0.0000140.48%
  • hedera-hashgraphHedera(HBAR)$0.189895-0.81%
  • unus-sed-leoUNUS SED LEO(LEO)$8.650.32%
  • bitcoin-cashBitcoin Cash(BCH)$392.33-1.08%
  • the-open-networkToncoin(TON)$3.05-0.60%
  • litecoinLitecoin(LTC)$97.230.80%
  • polkadotPolkadot(DOT)$4.56-1.22%
  • moneroMonero(XMR)$341.520.69%
  • bitget-tokenBitget Token(BGB)$5.122.00%
  • pepePepe(PEPE)$0.0000135.31%
  • daiDai(DAI)$1.00-0.02%
  • piPi(PI)$0.731.63%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$5.770.45%
  • bittensorBittensor(TAO)$404.99-4.21%
  • aaveAave(AAVE)$217.82-1.24%
  • nearNEAR Protocol(NEAR)$2.700.34%
  • okbOKB(OKB)$52.21-1.71%
  • aptosAptos(APT)$4.95-2.30%
  • ondo-financeOndo(ONDO)$0.91-0.99%
  • kaspaKaspa(KAS)$0.108693-0.37%
  • internet-computerInternet Computer(ICP)$5.09-1.14%
  • ethereum-classicEthereum Classic(ETC)$17.81-1.75%
  • gatechain-tokenGateToken(GT)$21.50-0.58%
  • crypto-com-chainCronos(CRO)$0.096210-1.11%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.770.60%
  • mantleMantle(MNT)$0.730.53%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232123-0.23%
  • vechainVeChain(VET)$0.027650-0.37%
  • render-tokenRender(RENDER)$4.47-1.37%
  • usd1World Liberty Financial USD(USD1)$1.000.02%
  • ethenaEthena(ENA)$0.3645650.98%
  • algorandAlgorand(ALGO)$0.2172340.70%
  • filecoinFilecoin(FIL)$2.78-0.39%
  • cosmosCosmos(ATOM)$4.720.05%