Its worth noting that FedNow was only rolled out in July of 2023[1] making it a poor measuring stick for total transactions, since most banks have not yet adopted the standard yet.
It's not money in the real sense. You can't buy water with it. You can't buy medicine with it. You can't buy land with it. The map is not the territory with Bitcoin.
[1]https://www.investopedia.com/what-is-fednow-7963716