Odaily reported that CryptoQuant head of research Julio Moreno said transactions of less than 0.01 BTC now represent about 80% of all daily transactions on the Bitcoin network. That level marks a recent high for this category of smaller transfers and is notably above the roughly 44% share recorded in 2023.
On-chain data protocols drive smaller transfers
According to Moreno, the increase has mainly been driven by OP_RETURN-based on-chain data protocols, including Runes, Ordinals, BRC-20 and data timestamping services. These protocols generate a large number of small transactions. Some of the transactions are as small as 546 satoshis, which Moreno described as approximately $0.35, adding to the continued rise in low-value transfers across the network.
The report, cited by The Block, also said the Bitcoin network activity index has been climbing since January this year. It has now reached its highest level since the end of 2024. Together, the figures describe a shift in Bitcoin’s daily transaction composition, with smaller transfers linked to data-oriented on-chain protocols taking a larger share of total network activity.