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But the flurry in on-chain activity is showing signs of slowing down as congestion in the Bitcoin mempool – a database of unconfirmed transactions – has eased from nearly 500,000 unconfirmed transactions to roughly 250,000 at the time of reporting. That number generally stayed under 50,000 last year. Bitcoin is popular in El Salvador, a country known for being the first nation state to adopt the cryptocurrency as legal tender in 2021.
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