On-Chain Metrics Suggest This Crypto Bear Market Won’t Be As Brutal as Past Cycles: Analytics Firm IntoTheBlock - BitcoinEthereumNews.com
cryptoIminumungkahi ng On-Chain Metrics na Ang Crypto Bear Market na ito ay Hindi Magiging Kasing Brutal ng Mga Nakaraang Ikot: Analytics Firm IntoTheBlock06 / 04 / 2022Balita ng Ethereum ng Bitcoin Certain on-chain indicators suggest the crypto markets current downtrend may not end up being as brutal as past bear markets, according to Lucas Outumuro, head of research at analytics firm IntoTheBlock. Sa isang bagong pagsusuri, Outumuro acknowledges that its getting “harder and harder to argue we are not in a bear market.” Though the total crypto market cap is down 57% its all-time high of about $3.07 trillion, which it tamaan last November, Outumuro notes that fundamental indicators have dipped less compared to previous bear markets. As a high portion of demand comes from speculation, it is normal for transaction fees to plummet severely as trading sentiment dwindles through bear markets. Remaining at higher levels, however, suggests stickier demand. Bitcoin has been averaging above $500,000 in daily transaction [fees] in May 2022, compared to $130,000 in May 2018. Ethereum and other crypto assets mirror this same pattern of less pronounced drops in on-chain activity than in prior bear markets. Kapwa Bitcoin (BTC) at Ethereum (ETH) are also displaying consistent progress in development activity despite the