Bitcoin on-chain activity reaches a multi-year high in June 2026

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CoinDesk reports:

CryptoQuant reports that Bitcoin network transaction activity has been steadily rising since January 2026 and has recently reached its highest level since the end of 2024. Meanwhile, the BTC price remains nearly 50% below its all-time high of $126,080.

Trading volume near record levels

According to the institution, the total number of Bitcoin transactions and the daily average number of transactions are both nearing historical highs. CryptoQuant states that this trend has persisted for several weeks and marks the first positive activity phase since mid-2024.

The proportion of small transactions is increasing.

CryptoQuant notes that transactions below 0.01 BTC and below 0.001 BTC have significantly increased, accounting for approximately 80% of daily trading volume combined. In 2023, this proportion was around 44%.

The price is still declining.

The institution views this change as an increase in protocol-driven activity, with most related transactions tied to Bitcoin NFTs and timestamping services. Despite the rise in on-chain activity, BTC recently traded at $63,865, down 17% over the past 30 days.

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