Something banks cannot do; clear on weekends, as Bitcoin transactions hit record numbers over weekend

Quick Take

• The number of transactions in the mempool has surpassed three-year highs
• Transaction count surpassed Ordinals hype, and Luna and FTX collapse, showing high transaction demand.
• This demand is most likely from the fallout of Silvergate and SVB; as banks are closed over the weekend, Bitcoin becomes the main asset for weekend use.