Someone posted this on a Slack Channel I've been Lurking in. Does this mean there is an insane amount of transactions still waiting to process? ... I hate to say it, but this looks bad. Especially if these are headed to the exchanges.
I saw this same info graphic on Charlie Lees twitter earlier today. Its impressive but not ominous.
To quote your title. It's 'action'. A lot of it. It means BTC is alive and still as volatile as ever.