为什么比特币网络活动下降？

最新的链链数据表明，在过去的几个月中，比特币网络活动一直在减弱，区块链指标最近达到了新的低点。

On-chain data shows that the Bitcoin network activity has been waning over the past few months, reaching a new low recently.

链上数据表明，比特币网络活动在过去几个月中一直在减弱，最近达到了新的低点。

Why Is The Bitcoin Network Activity Falling?

为什么比特币网络活动下降？

In a recent post on the X platform, CryptoQuant head of research Julio Moreno discussed how Bitcoin is experiencing an unusual period of low transaction activity, with the mempool being almost empty and transaction fees dropping to 1 sat/vB. This marks the lowest level of network activity since March 2024, indicating a significant decline in on-chain demand.

在X平台上最近的一篇文章中，CryptoQuant Research Julio Moreno负责人讨论了比特币的交易活动较低时期，其中Mempool几乎是空的，交易费用降至1 SAT/VB。这标志着自2024年3月以来的网络活动水平最低，表明链上需求的大幅下降。

To provide some context, the mempool is a temporary storage area where pending Bitcoin transactions await processing. During periods of high on-chain demand and network activity, the mempool is usually congested. However, recent on-chain data shows that most transactions have been confirmed, leaving the mempool nearly empty.

为了提供某些上下文，Mempool是一个临时的存储区域，等待比特币交易正在等待处理。在高链需求和网络活动期间，孟买通常会被拥挤。但是，最近的链链数据表明，大多数交易已被确认，使Mempool几乎空了。

An almost-empty mempool is a rare occurrence that is often linked to either waning on-chain activity or shifting market dynamics. According to Moreno, the main factor contributing to this decline is the fading excitement around Runes and BRC-20 tokens.

几乎是空的Mempool是一种罕见的情况，通常与链接活动的减弱或转移市场动态有关。根据莫雷诺（Moreno）的说法，导致这种下降的主要因素是符文和BRC-20代币周围的兴奋。

Both Runes and the BRC-20 token standard are protocols that enable the creation and minting of fungible and non-fungible tokens on the Bitcoin blockchain. While these protocols generated significant hype upon launch, the initial excitement failed to translate into sustained usage.

符文和BRC-20代币标准都是可以在比特币区块链上创建和铸造可及格和无缠绕令牌的协议。尽管这些协议在发射时引起了重大炒作，但最初的兴奋未能转化为持续的用法。

However, at the peak of the Runes and BRC-20 frenzy, the number of confirmed transactions on the Bitcoin network reached a record high, crossing the 1.5 million mark in a single day. To be precise, the pioneer blockchain processed over 1.6 million unique transactions between sender and receivers on April 23, 2024, largely driven by the launch of Bitcoin Runes.

但是，在符文和BRC-20 Frenzy的峰值上，比特币网络上确认的交易数量达到了创纪录的高度，一日越过150万大关。确切地说，先锋区块链于2024年4月23日在发件人和接收器之间处理超过160万次独特的交易，这在很大程度上是由比特币符文的推出。

This decline in transaction volume has broader implications for various aspects of the pioneer blockchain, including miner revenues. Miners also earn transaction fees as an additional source of income, especially since block rewards have been further reduced following the recent halving event. Therefore, an extended period of low fees could impact mining profitability, potentially influencing the distribution of network hash rate.

交易量的下降对包括矿工收入在内的先锋区块链的各个方面具有更大的影响。矿工还赚取交易费用作为额外的收入来源，尤其是因为在最近的减半事件之后，块奖励进一步减少了。因此，长期的低费用可能会影响采矿盈利能力，从而可能影响网络哈希率的分布。

How Does It Affect BTC Price?

它如何影响BTC价格？

An almost-empty mempool and low transaction activity are not ideal indicators for positive price movements. It could suggest a lack of speculative interest and enthusiasm among investors, leading to a stagnation in the Bitcoin price.

几乎是空的Mempool和低交易活动并不是正价转移的理想指标。这可能表明投资者缺乏投机性的兴趣和热情，从而导致比特币价格停滞不前。

At the time of writing, BTC is valued at around $100,450, having experienced a decline of nearly 2% in the past 24 hours. According to CoinGeko data, the premier cryptocurrency has lost roughly 3.5% of its value in the last seven days.

在撰写本文时，BTC的价值约为100,450美元，在过去的24小时中的下降近2％。根据Coingeko数据，在过去的七天中，总理加密货币的价值约为其价值的3.5％。