Bitcoin Small Transfer Volume Hits $3.2B, Approaching FTX Collapse Levels

Coldcard incident drives Bitcoin on-chain activity to peak levels, with small transfers nearing FTX-era volumes and long-term holder spending surging significantly.

Woofun AI data shows that Bitcoin network activity spiked on July 31 as users reacted to the Coldcard security incident. Daily active addresses rose from 645,000 to nearly 1 million, marking the highest level since December 10, 2024. Transfers under 1 BTC totaled 39,600 BTC, closely mirroring the 39,900 BTC seen after the FTX collapse. Small transfers under $100,000 reached $3.2 billion, a new high since November 21, 2024. Long-term holder spending increased from 269,000 BTC to 406,000 BTC, while mempool transactions jumped to 96,000, the highest since June 20. Exchange recharges from small holders also hit their peak since February 6.