The Bitcoin course (BTC) is a few percent of the historically maximum value of about $ 112 thousand. Despite this, the network activity in the blockchain of the main cryptocurrency has dropped to the minimum values since 2023. This is also accompanied by a decrease in volatility on the BTC trading graph, reports RBC Crypto.
On July 7, the price of bitcoin is about $ 108.35 thousand, which is about 3% of the historically maximum price recorded on May 22, according to Binance. After reaching the maximum, the price of the main cryptocurrency is in the range of $ 100–110.
At the same time, the 30-day volatility of the Bitcoin price (BTC), according to the BITBO service, fell from the peak of 2025 2.8%, reached on May 21, to 1.26% by July 7. The current value of volatility is minimal since June 2024.
Volatility is a statistical indicator characterizing the variability of the price of the asset (for example, currency, shares) over a certain period of time. Simply put, this is a measure of how much the price of the asset fluctuates. High volatility means large price fluctuations, and low – small.
Against the background of this, transactional activity at the blockchain network level also fell. According to Intoleblock, according to the results of June, only 10.29 million transactions were recorded on the Bitcoin network. This level is minimal since October 2023, when 10.14 million transactions were recorded. Historically, the maximum indicator was in October 2024 at a mark of 20.48 million.
According to the director of marketing and the development of the Blokchan-project DASH, Joel Valensuel, the situation may indicate that the bitcoin network has left retail users.
“Simply put, almost all the real users of Bitcoin have gone. And at the same time [биткоин] on historical maximums! ” – quotes Coindesk Valencuela, who called the situation a major crisis when the blockchain can become “a completely castodial asset managed by governments and institutions.”
The other side of the activity was shown by the report of the analytical company Flipside, engaged in blockchain research. Their data showed that activity on the network is not always equal to the number of users and most of the volume of transactions process only 5% of the wallets in many blockchains (not only bitcoin), according to The Defiant.
The main conclusion of the study is that the true driving forces of the value in the ecosystems of the blockchain are “high -quality users” who “are actively involved, regularly make transactions and make a significant contribution to the network.”
Asset or currency
Despite the relative low activity in the Bitcoin network in terms of transactions, experts see the potential for the development of the main cryptocurrency precisely as a payment means. So, for example, a long -standing supporter of Bitcoin and founder of Twitter (social network X) Jack Dorsy recently noted that the Bitcoin community should focus on scaling payments.
But at the moment, bitcoin is not the most used asset for transactions. After all, “payments in cryptocurrency” are most often associated with stablecoins – they account for two -thirds from the entire volume of operations on the cryptornka, according to Chainalysis analysts. Experts indicated that this type of crypto acting is the most important element in the process of integrating blockchain products into the financial system and the economy.
Dorsi’s commentary on the development of payments in Bitcoin also sounded against the background of a new trend formed in the first half of 2025, where public companies begin to actively accumulate bitcoin as a reserve on the stock market. Some of these organizations, among which there are little -known or even unprofitable, resort to borrowings to form crypto -cutter. By analogy with Microstrategy, Michael Saylor, they use debt instruments for buying cryptocurrencies, making it the main asset on the balance sheet.
This trend means holding bitcoin on the balance sheet, which is opposite to its use as a payment decision. It is assumed that this behavior of investors improves the scarce properties of the main cryptocurrency, the issue of which is limited to 21 million BTC, and the more participants follow such a strategy, the less bitcoins in the open market and the more valuable.
According to Bitcointreasuries, on July 7, more than 140 companies accumulated almost 850 thousand BTC, or more than $ 92 billion, which is more than 4% of the total issue of bitcoin.
Nevertheless, the activity in the Bitcoin network, although significantly lower than the maximum values, the number of transactions is at a high level (about 10 million), which has been held from 2017 with a temporary fall of up to 6 million in 2018. That is, over the past seven years, activity in the bitcoin network has been maintained at a high level, regardless of the cost of bitcoin and the average daily commission for transactions.
Even despite new trends in accumulation, bitcoin is used with the same activity as most of the time since 2017.
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Source: Cryptocurrency
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