Bitcoin Network Activity Reaches Two-Year High with Runes Protocol Resurgence

The Bitcoin network's activity has reached a two-year high following the resurgence of the Runes protocol.

The increase in on-chain activity, despite the low price, is attributed to the growth in transactions and fees generated by the Runes protocol.

According to Glassnode data, the number of Bitcoin transactions recently surged to over 820,000 per day. This comes after a significant drop in network activity following the previous halving event and the debut of the Runes protocol, which enables users to create replaceable tokens on the Bitcoin blockchain.