Activity on the Bitcoin network is surging, CryptoQuant said, but it's not correlating with price movement for its native asset.

Bitcoin transactions below 0.01 BTC now make up about 80% of all daily transactions, up from about 44% in 2023, CryptoQuant said.

Microtransactions now make up about 80% of daily Bitcoin transactions, helping drive network activity near record highs, CryptoQuant says.