Currently, there are fewer than a half a block worth of transactions weighting for confirmation.

The mempool is empty.

#mempoolreport

Screenshot of mempool.space. There are barely more than two blocks worth of transactions waiting for confirmation with the next block starting at 1.02 ṩ/vB. The recent blocks show one block that is not full.

The mempool continues to be almost empty. The UTXO set peaked at 188M around Christmas and continues to trend down since. It has now fallen below 180M.

Next block: 1.02 ṩ/vB+

#mempoolreport

Last night around 1 AM, there were only 3.58 MvB of transactions waiting for confirmation. This low point is followed by the mempool growing to over 20 MvB by 10 AM.

Last night, the mempool shrunk to a depth of less than four blocks worth of unconfirmed transactions before it bounced back. It seems that we will soon see non-full blocks.

#mempoolreport

The mempool visualization from mempool.space shows that the transaction data waiting for inclusion in the Bitcoin blockchain has been trending down towards the mempool clearing altogether since Christmas.

The mempool has come down from over 105 blocks worth of transactions in the 1–2 ṩ/vB band to less than 16 blocks.

If you had been waiting for low feerates to consolidate a lot of DCA outputs or move your wallet to a more blockspace efficient output format, now’s a good time!

#mempoolreport

A visualization of the last month of mempool data shows the shrinking data volume of the 1-2 ṩ/vB band.

The mempool has not fully cleared since April 2023, but since Xmas,transactions bidding 2 ṩ/vB or more cleared several times and the network has been slowly chipping away at the 1–2 ṩ/vB band. E.g., block 879,439 yesterday contained txs with an effective feerate of 1.08 ṩ/vB.

#mempoolreport

The mempool visualizer on mempool.space shows that the feerates in Bitcoin’s transaction queue have fallen below 2 ṩ/vB over Christmas.

The projection of upcoming blocks shows the next block containing transactions paying less than 2 ṩ/vB.

Over Christmas, the drop in blockspace demand has caused the Bitcoin network to start confirming transactions paying less than 2 ṩ/vB. The 1–2 ṩ/vB-band has shrunk from 92 blocks to 72 blocks depth.

Next block: 1.42 ṩ/vB+

#mempoolreport