The total number of transactions waiting in the mempool in different size (vByte) cohorts.
Quick Take
The number of transactions in the mempool has surpassed three-year highs
Transaction count surpassed Ordinals hype, and Luna and FTX collapse, showing high transaction demand.
This demand is most likely from the fallout of Silvergate and SVB; as banks are closed over the weekend, Bitcoin becomes the main asset for weekend use.
Mempool number of transactions by cohort: (Source: Glassnode)