Bitcoin Active Addresses Hit Yearly Low, Squeezing Miner Revenue

The Block reported on the 15th that Bitcoin (BTC) network activity has fallen to its lowest level in 12 months by the end of 2024. The seven-day moving average of active addresses has decreased to 660,000. Between 2023 and 2024, speculative activity in Ordinals and Runes intensified, reaching a peak of approximately 1.1 million addresses in November 2024, but has since significantly declined. Ordinals is a technology for recording data such as images on Bitcoin, while Runes is a mechanism for issuing tokens on Bitcoin. Both technologies saw increased activity from 2023 to 2024...