According to ChainCatcher, CryptoQuant head of research Julio Moreno said that transactions below 0.01 BTC currently account for about 80% of the Bitcoin network’s total daily transaction volume. The share is significantly higher than the roughly 44% recorded in 2023, indicating a continued rise in the number of small-value transfers within Bitcoin’s on-chain activity.
Runes, Ordinals and BRC-20 Drive Small Transactions
Moreno said the increase has been mainly driven by OP_RETURN-based on-chain data protocols, including Runes, Ordinals, BRC-20 and data timestamping services. These protocols generate large numbers of small transactions. Some transactions are as small as 546 satoshis, which Moreno described as approximately $0.35, contributing to the continued expansion of low-value transfers on the network.
Moreno also noted that the Bitcoin network activity index has been rising since January this year. It has now reached its highest level since the end of 2024. The figures show that transaction activity related to on-chain data protocols has become an important part of Bitcoin’s daily transaction composition.