Bitcoin network activity down 30% from highs as 'tepid' demand mimics mid-2019
2022's bear is 2019's bull as Bitcoin active entities number around 275,000 per day in February. Bitcoin (BTC) is now seeing "tepid" demand just three months after hitting its latest all-time high, according to on-chain analytics firm Glassnode.In a tweet on Feb. 18, researchers flagged a sea change in Bitcoin on-chain activity compared to just three months ago. Bitcoin active entities echo 2019 "mini bull peak"Bitcoin's descent from $69,000 to $33,000 has been accompanied by a widely-publicized crash in interest from mainstream consumers.Now, the latest data shows that for existing....
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On-chain Bitcoin activity surged during January, with more than 22.3 million addresses sending or receiving BTC last month. January was a record month for Bitcoin’s price and network activity, with more than 22.3 million unique addresses actively sending or receiving BTC over 31 days.The milestone was spotted by crypto market data aggregator Glassnode, who tweeted that January had seen the highest monthly number of unique active addresses in Bitcoin’s history:#Bitcoin network activity at ATH. In January, more than 22.3 million unique addresses were active in the network sending or....
Ethereum has actually seen quite a tepid bout of price action despite Bitcoin pressing to new year-to-date highs. While the coin is up 1.3% in the past day, it is still a handful of percent below local highs. Analysts are fearful that Ethereum could face a stronger pullback in the days ahead as it fails to pass key resistances. One trader suggested that the coin could drop to $380-390 as it failed to pass the […]