Chain Articles > Blog > Coinbase > Bitcoin hits $122K but onchain activity sinks to multi-year low

Bitcoin hits $122K but onchain activity sinks to multi-year low

posted on Jun. 30, 2026 at 5:12 am

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Demand for Bitcoin blockspace is so low that some node operators want to reduce transaction fee minimums from about $0.18 to less than $0.01.

Felicity ShortJune 30, 2026

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