According to the Internet, according to The Block, trading activity on the Bitcoin chain fell to its lowest level in a year and a half. The moving average transaction volume on the 7th dropped to 316,000 last week, and has now rebounded slightly to about 350,000, far below 2024. 700,000 transactions at the mid-year peak. The speculative boom in bitcoin-native protocols such as Runes and Ordinals has subsided, and trader interest has shifted to other blockchain ecosystems. Since the beginning of the year, Bitcoin transaction fees have remained below US$1.50, indicating that there is little competition for block space and a return to traditional transfer purposes. Some users tried to initiate transactions at a fee of less than 1sat/vB, and mining pool MARA launched the "Slipstream" channel to handle ultra-low fee transactions, sparking controversy among Bitcoin developers about network standards and censorship resistance.