As Crypto Interest Winds Down Bitcoin’s Daily Transaction Rate Plummets to Tw...
Onchain data indicates that bitcoin transactions per day have plummeted to lows not seen since October 2018. Further, bitcoin transaction fees have dropped 93% after touching a high of $62 per transaction in April 2021. Bitcoin Daily Transaction Rate Dips by 35%, Google Trends Data Shows Interest Has Dropped Since May While bitcoin (BTC) prices have dropped to lower bound ranges, after touching an all-time high over $64K per coin, the number of daily transactions has dive-bombed as well. In fact, daily BTC transactions have been plummeting since the first week of 2021, as statistics show a....
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Crypto analyst CrediBULL Crypto has revealed that Bitcoin’s open interest has crashed to a six-month low. The analyst further explained what happened the last time this low open interest occurred while providing a bullish outlook for the flagship crypto. Bitcoin’s Open Interest Crashes To 6-Month Low In an X post, CrediBULL Crypto revealed that Bitcoin’s open interest is at the lowest levels it has been at in six months. He noted that the BTC price was trading between $50,000 and $60,000 the last time the open interest was this low. The analyst also revealed that Bitcoin’s funding rate....
Bitcoin has been recovering from a bloody weekend in the daily chart. At the time of writing, BTC trades at $34,483 with losses in higher timeframes. The general sentiment in the market seems to be flipping bullish, but the bulls require more conviction to make a decisive push against the bears. In the short term, […]
Good news for Bitcoin just keeps rolling in. Now it is that Bitcoins in the near future will overtake Paypal in transaction volume, with Bitcoin transaction $300 million worth daily as of now. With PayPal totaling in at around $315 million, Bitcoin isn’t far behind. With this much cash flow, even eBay has admitted that Coinbase and Bitpay, two major bitcoin payment processors, are some of eBay’s biggest e-commerce competitors. If this keeps up, sooner or later Bitcoins transaction volumes will be competing with even bigger payment networks, such as American Express, MasterCard, etc. More....
A recent plummet in hash rate and spike in transaction fees has raised some questions about Bitcoin’s resilience. But they shouldn’t.
Does hash rate fall this significantly often? Miner monthly revenue nears 2017 levels. Hash price is now 48% up from the lows. Is this a mining death spiral?