🧵 "Bitcoin is a ghost town" they say, pointing to quiet mempools
But in the last 3 months, $60B+ moved on-chain daily on average
That's 588,824 BTC flowing through the network every single day
The "ghost town" crowd is measuring the wrong thing entirely... 👇
2/ Here's what's actually happening:
While transaction COUNT dropped slightly, transaction VALUE remains massive:
$60B+ daily on-chain transfers
4.3M BTC weekly (21.6% of total supply)
Same volume levels as 5 months ago
This isn't a ghost town - it's serious money moving seriously
3/ Plot twist: Bitcoin on-chain value often EXCEEDS daily spot trading volume
June 11th example:
🟠 624,437 BTC moved on-chain
⚪ 467,791 BTC spot volume
Real Bitcoin → Real wallets vs. Paper trading → Same coins recycling
Which one matters more? 🤔
4/ What this actually signals:
✅ Less speculation, more actual utility
✅ Institutions moving capital quietly
✅ Bitcoin working as designed: final settlement layer
✅ Empty mempool = efficiency, not abandonment
The network is maturing, not dying
5/ The "ghost town" narrative completely misses the point
Bitcoin isn't about constant mempool chaos - it's about moving real value efficiently
What other "obvious" metrics do you think tell incomplete Bitcoin stories?
🔍 Building tools to dig deeper into these questions
npub1gt…y3a7q
2025-06-12 11:21:30 CEST
Author Public Key
npub1gth6pfk5gp80dyjx5ll590zqddcf3k8j2qyyqxa6l37utyz4nlzsay3a7qSeen on
wss://nos.lolPublished at
2025-06-12 11:21:30 CESTEvent JSON
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"content": "🧵 \"Bitcoin is a ghost town\" they say, pointing to quiet mempools\nBut in the last 3 months, $60B+ moved on-chain daily on average\nThat's 588,824 BTC flowing through the network every single day\nThe \"ghost town\" crowd is measuring the wrong thing entirely... 👇\n\n2/ Here's what's actually happening:\nWhile transaction COUNT dropped slightly, transaction VALUE remains massive:\n\n$60B+ daily on-chain transfers\n4.3M BTC weekly (21.6% of total supply)\nSame volume levels as 5 months ago\n\nThis isn't a ghost town - it's serious money moving seriously\n\n3/ Plot twist: Bitcoin on-chain value often EXCEEDS daily spot trading volume\nJune 11th example:\n🟠 624,437 BTC moved on-chain\n⚪ 467,791 BTC spot volume\nReal Bitcoin → Real wallets vs. Paper trading → Same coins recycling\nWhich one matters more? 🤔\n\n4/ What this actually signals:\n✅ Less speculation, more actual utility\n✅ Institutions moving capital quietly\n✅ Bitcoin working as designed: final settlement layer\n✅ Empty mempool = efficiency, not abandonment\nThe network is maturing, not dying\n\n5/ The \"ghost town\" narrative completely misses the point\nBitcoin isn't about constant mempool chaos - it's about moving real value efficiently\nWhat other \"obvious\" metrics do you think tell incomplete Bitcoin stories?\n\n🔍 Building tools to dig deeper into these questions",
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}