Bitcoin network trading activity drops to lowest level since October 2023

According to The Block, the seven day average trading volume of the Bitcoin network dropped to 317000 transactions last Friday, hitting a new low since October 2023. Data shows that on June 1st, there were only 256000 confirmed block transactions in a single day. At the same time, multiple transactions on the chain with a rate lower than 1 sat/vB were packaged by miners, including a 0.1 sat/vB ultra-low rate transaction submitted by Memopool founder Mononaut (with a total cost of about 0.01 US dollars), which was held in the internal storage pool for one month and processed by mining company MARA through a dedicated channel Slipstream. On June 6th, 31 core Bitcoin developers jointly signed an open letter opposing node filtering of low fee or non-standard transactions, emphasizing the essential nature of Bitcoin as an anti censorship system. Developers point out that forcing users to use private channels such as Slipstream would compromise decentralization features. This position has been opposed by Jan3 founder Samson Mow and others, who believe that core developers are removing protection mechanisms for junk trading.