Bitcoin Sees Massive Decline In On-Chain Activity
Bitcoin on-chain activity had been lit up like a Christmas tree over the weeks leading up to the Ethereum Merge. Even though the upgrade was not taking place on the bitcoin network, it was still significant for the crypto space, which led to increased activity across various networks. However, now that the Merge has been done and dusted, the network activity has begun to retrace to ‘normal’ levels, leading to a decline in on-chain activity. Bitcoin Mining Hashrate Drops For the first time in two months, the bitcoin mining difficulty had adjusted downward. Due to this downward difficulty....
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Bitcoin on-chain activity has been swinging between green and red for a while. This time around, though, after the price of bitcoin had suffered a tremendous loss, the on-chain activity has turned to the downside once more. The decline has cut across the majority of metrics, leading to as large as double-digit declines in some […]
On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coin’s ecosystem, considering the impact these investors usually have on Shiba Inu’s price. Shiba Inu’s Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s whale activity has declined by over 100% in the last seven days. This is based on the large holders’ netflow metric, which indicates when these whales are adding to their positions or offloading their tokens. Related Reading: Bitcoin Closes....
Throughout the early part of this year, the Lightning Network (LN) has seen massive growth and continued adoption from the Bitcoin community. Just yesterday, Lightning Network saw it’s capacity surge to over 1500 BTC. This uptick in activity and adoption shows that users are confident in the ability to make transactions off-chain securely through the […]
For a while now, Ethereum whales have been moving their coins around. This has been a direct result of the bear market that has caused investors to lose a significant amount of their portfolios. Even now, the crypto market is still being ravaged by declining prices. The result of this has been investors seeking refuge in tokens that do not see a lot of volatility, and Ethereum whales have not been left out of this flight to safety. Stablecoins Gain Favor Over the last 24 hours, the trade activity of the top Ethereum whales has shown a big shift towards stablecoins. These whales, who have....
The crypto market successfully bounced from support with major cryptocurrencies recording profits over today’s trading session, VeChain (VET) follows the general sentiment. The cryptocurrency has been able to preserve some of its gains from yesterday’s session and seems poised for further highs. Related Reading: Bitcoin Sees Massive Decline In On-Chain Activity At the time of writing, VeChain (VET) trades at $0.023 with a 2% profit in the last 24 hours and a 5% profit over the past 7 days. In higher timeframes, the cryptocurrency records significant losses, but in the short term, this....