Bitcoin Circulation Rate Remains Low, Why This Could Be Bad For Rally
On-chain data shows the Bitcoin circulation rate has continued to be low recently, something that may be bad news for the current BTC rally. Bitcoin Circulation Has Remained Low Despite Recent Price Surge According to data from the on-chain analytics firm Santiment, 105,000 BTC is moving per day currently. The relevant indicator here is the “circulation,” which measures the unique daily number of Bitcoin tokens that are showing some movement on the blockchain. Since the metric only counts unique coins, it means that if a token has been shifted on the network multiple times in a....
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The Ethereum network has now continuously burned base fees for a week straight and in that time frame, the amount of ETH burned has hit $100 million. With over 32,000 ETH burned in the space of seven days. The fee burn rate fluctuates given the network traffic, but the burn continues regardless. Depending on network traffic going forward, the burn rate is predicted to hit 4 ETH per minute very soon. Related Reading | Ethereum Set To Explode According To Market Dominance, Crypto Analyst The rate at which the ETH is burned currently sits at around 3.38 ETH per minute. This puts the....
It is time to reveal the top five reasons why bitcoins are superior to dollars, both now, and in the future. I’ve limited this list to the top five, but there are certainly many other reasons. The dollar has its own advantages, but they will prove fleeting in the coming years. The dollar’s reign as the world’s global reserve currency is running out, and bitcoin’s time as the world’s first and only global digital currency is just beginning. Here are five reasons why. Inflation occurs partly due to the number of currency units in circulation. U.S. dollar circulation continues to increase at....
Shiba Inu is seemingly gearing up for a reversal especially as the community has jumped back into reducing the circulating supply of SHIB tokens. This has resulted in a significant jump in the SHIB burn rate over the last day as millions of tokens make their way out of circulation. SHIB Burn Rate Rises By […]
The price of Bitcoin surpassed its all-time high and surged above $24,600 as traders analyze what will come next. The price of Bitcoin surpassed its all-time high on Christmas, reaching $24,681 on Binance. Following BTC’s strong rally, traders and analysts are exploring short-term bear and bull cases. The market sentiment around Bitcoin remains overwhelmingly positive, but there are some concerns put forth by analysts in the foreseeable future and as a result, the next move is not a clear-cut one.The funding rate of Bitcoin futuresBitcoin (BTC) has rallied above $24,600 with a relatively....
Ethereum’s new fee burn mechanism is almost at its one-week mark. Burn rate has now grown to a rate of 3.88 ETH in the past 24 hours. So far, over 27,000 ETH has been burned from fees. Taking over $87 million out of circulation. The plan was to reduce the amount of new ETH being […]