Bitcoin Mempool Explodes: Memory Usage Full, Transactions Waiting Soar

• Bitcoin memory usage has exceeded 300MB, with a capacity of 545 MB.
• Inscription’s new count over 24 hour period has fallen dramatically, which shows demand is not at the original hype.
• The mempool number of transactions by cohort has exploded to new highs, this is the total number of transactions waiting in the mempool in different size (vByte) cohorts.

Memory Usage

According to Mempool.space, Bitcoin memory usage exceeds 545MB and purging up to 3.00 sat/vB.

Inscriptions

Inscription’s new count over 24 hour period has fallen dramatically, which shows demand is not at the original hype.

Mempool Transactions

The mempool number of transactions by cohort has exploded to new highs, this is the total number of transactions waiting in the mempool in different size (vByte) cohorts.

Potential Causes

Could this potentially be panic to get coins off exchanges after the fallout from SIlvergate?

Conclusion

Bitcoin memory usage full and number of transactions waiting in the mempool exploding to new highs suggests potential panic to get coins off exchanges after Silvergate halt operations.