🧵 "Bitcoin is a ghost town" they say, pointing to quiet mempools But in the last 3 months, $60B+ moved on-chain daily on average That's 588,824 BTC flowing through the network every single day The "ghost town" crowd is measuring the wrong thing entirely... 👇 2/ Here's what's actually happening: While transaction COUNT dropped slightly, transaction VALUE remains massive: $60B+ daily on-chain transfers 4.3M BTC weekly (21.6% of total supply) Same volume levels as 5 months ago This isn't a ghost town - it's serious money moving seriously 3/ Plot twist: Bitcoin on-chain value often EXCEEDS daily spot trading volume June 11th example: 🟠 624,437 BTC moved on-chain ⚪ 467,791 BTC spot volume Real Bitcoin → Real wallets vs. Paper trading → Same coins recycling Which one matters more? 🤔 4/ What this actually signals: ✅ Less speculation, more actual utility ✅ Institutions moving capital quietly ✅ Bitcoin working as designed: final settlement layer ✅ Empty mempool = efficiency, not abandonment The network is maturing, not dying 5/ The "ghost town" narrative completely misses the point Bitcoin isn't about constant mempool chaos - it's about moving real value efficiently What other "obvious" metrics do you think tell incomplete Bitcoin stories? 🔍 Building tools to dig deeper into these questions