PANews reported on February 2 that according to The block, the transaction processing volume of the Bitcoin network hit an 11-month low in January, continuing a three-month downward trend. Compared with the highest monthly transaction volume in the network's history in October 2024, the monthly transaction volume has dropped by more than 43%. The backlog of unprocessed Bitcoin transactions has also dropped significantly, and transaction fees have hit a record low as miners clear the memory pool of Bitcoin nodes. Several blocks were not filled on February 1.