the_rocketHero Member
Posts: 17 · Reputation: 2323
#1May 4, 2020, 09:26 AM
Anyone got a clue why txn counts are dropping so much? Last time it was this low was like ages ago, over 6 months for sure.
Why have mempool transactions decreased recently?
4 replies 396 views
f0rk_5tackNewbie
Posts: 124 · Reputation: 3
#2May 4, 2020, 02:52 PM
Looks like the hype around BRC-20 tokens, especially Sats, is gone. They finished minting all their tokens and now it's chillin'. The Ordinals hype is fading too, which was clogging up blockspace for a while. Means lower fees now for regular transactions.
CalmFalconMember
Posts: 262 · Reputation: 176
#3May 4, 2020, 04:40 PM
Yeah, if you check the mining history, it's kinda predictable. Transactions peaked then dropped, so I'm not shocked. But BRC tokens probably contributed to this dip. Plus, BTC price movement could be a factor too. Not too worried though, miners were doing their thing even before BRC tokens came along... right?
What's next? Are they gonna roll out another crappy token? I mean, if they made bank with this one, why not keep pushing more? Just saying... it’s a cycle.
It's a bit deeper than just that. Viabtc was paying out 104-105% due to the transaction overload. Now they're at 99%, which means they’re losing a good chunk of coins per block. Stretch that over 144 blocks and that's like 54 BTC not reaching miners daily. Pretty wild how many miners are dropping off right now.