Analyst: Suspicious Bitcoin Mempool Activity, Transaction Fees Spike to $16

With the daily trading volume of Bitcoin at an all-time high, at around $20 bln across major regions, the mempool of the Bitcoin Blockchain has started to expand again.

In Bitcoin, the mempool operates as a holding area for unconfirmed transactions. Payments made by users await in the mempool until miners arrive to confirm the transactions. The size of the Bitcoin mempool, which remains at around 79 mln bytes at the time of reporting, represents the aggregate size of transactions waiting to be confirmed.