According to The block, the 7-day moving average of Bitcoin network transaction volume has dropped to 330,000 transactions, hovering near a 12-month low, a significant drop from the peak of 730,000 transactions earlier in the network's history. This means that network activity is down about 55% from the peak level, indicating a significant change in the way the Bitcoin network is used. Transaction fees stabilized around $500,000 last month, down from the higher levels seen during the period of increased network activity until the end of 2024.