Analyst: Bitcoin network activity is cooling down, with short-term on-chain momentum weakening
BlockBeats News, on March 11, crypto market analyst Axel Adler Jr. posted on social media stating, "Compared to one month and one quarter ago, bitcoin (BTC) 30-day average transfer volume has decreased, indicating that short-term on-chain momentum has weakened.
However, this metric is still above the 365-day average and much higher than six months ago, suggesting that this is not a structural collapse, but rather a cooling-off phase in network activity following previous expansion."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Arbitrage trading is still profitable, but the "easy win" era may be over! Citi warns of narrowing spread risks
The US foreign exchange trading team at Citigroup expects that although carry trade strategies may find it difficult to replicate the impressive returns of the previous period, they will still continue to offer profit opportunities for investors.
BNB falls below $700
Continue fueling AI expenses! Oracle (ORCL.US) reportedly close to selling $10 billions in stocks at an 11% discount, priced at $116.
It is reported that Oracle is about to sell shares worth 10 billions USD at an 11% discount.
Crypto prices
More
