Bitcoin's Declining On-Chain Activity & Runes Protocol Slowdown
Sunday, 12 May 2024, 21:00
Bitcoin's On-Chain Activity Decline
Bitcoin's on-chain activity has plummeted to its lowest levels since 2019, reflecting diminishing trader interest amidst market uncertainty.
Market Sentiment Impact
- This isn't necessarily a sign of more BTC dips, but rather a signal of crowd fear and indecision.
Runes Protocol Slowdown
Runes Protocol transactions have slowed down after an initial surge in activity, mirroring Bitcoin's reduced engagement levels.
Bitcoin Spot ETF Trends
- Enthusiasm surrounding Bitcoin spot ETFs is diminishing, with dwindling trading volume and fund outflows over the past month.
Furthermore, two long-dormant Bitcoin addresses belonging to Satoshi Nakamoto recently reactivated, showcasing a massive profit surge.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.