There have been a lot of transactions in theBTC) network has spiked over the past week, with blockchain analysis firm Glassnode suggesting that they are “urgent” transactions due to investors de-risking.

Last week, the Bitcoin mempool saw a sudden surge of 42 800 transactions. Glassnode’s chief analyst says these were likely “urgent” transactions due to the high amount of fees paid per transaction. This week’s average fee increased to $2.72. That is about 15% above the usual average. According to BitInfoCharts — an on-chain data tracker. These were the results. reported in Glassnode’s Monday “Week On-chain” report.