The Bitcoin mempool is empty for the first time in 2 years — what does it mean?

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Breaking news: the Bitcoin mempool has completely cleared on February 2nd — this situation has not occurred in two years. For those who are out of the loop: the mempool is the queue of all unprocessed transactions that accumulates before miners add them to the blockchain.

An empty mempool means one of two things: either all transactions have already made it to the blockchain, or simply not many people are sending anything. In both cases, it's a golden hour for transfers. Fees drop to a minimum, the network is not congested, and confirmations come quickly.

For regular users, this is good news: if you need to make a transaction, now is the most advantageous time.

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