That would mark the highest number of transactions since...
Well, since the peak of the bull run in late 2017 and early 2018!
(Source: https://twitter.com/kononenko_stas/status/1094276304197828609)
Looking at the chart, it looks like we are the highest levels since January of 2018.
Interestingly enough, bitcoin fees were up over $30 the last time we saw this level of activity.
We aren't anywhere near those levels now.
Why is that?
SegWit SegWit SegWit.
Adoption of SegWit has increased dramatically since then.
That has helped drive fees down and keep them there.
Fundamentals are improving!