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Coldcard hack boosts Bitcoin mempool to highest level since Feb 2025
Bitcoin’s mempool transaction count rose to 89,031, while active addresses and whale activity also hit multi month highs, despite BTC trading in a tight $62,000 to $65,000 range.
Bitcoin’s mempool activity jumped after a multimillion-dollar Coldcard hardware wallet hack that began July 30 and is still underway, according to CoinDesk’s Daybook.
Blockchain.com data showed the number of unconfirmed transactions awaiting miner confirmation rose to 89,031 on Tuesday, the highest level since February 2025. CoinDesk also cited Santiment data showing active addresses climbed to a three month high of 712,000 and whale transactions reached a five month high of 61,800.
CoinDesk noted that higher network activity is often associated with support for bitcoin’s valuation, but BTC has not broken out of its recent trading range. The article said bitcoin has remained boxed between $62,000 and $65,000.
The piece pointed to policy uncertainty around the Clarity Act as a near term catalyst, while also flagging U.S. Treasury yields as a longer lasting driver. It cited Marex analysts saying the implied probability of passage by year end has fallen to 23% from around 75% in mid May, and referenced Bitfinex’s view that the bullish case could weaken if the real or inflation adjusted 10 year yield rises above 2.5%.
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