It's a continuing story that the Bitcoin network seems to be dying despite high prices -- there just isn't a lot of volume in Bitcoin trading these days.
downrightmike•6mo ago
That's probably a function of the halving, but more likely, there aren't excess dollars that need a place to be parked for a while. If US rates go up, I expect an initial surge and then crash because people will escape the risk and pull out into other currencies.
PaulHoule•6mo ago
The thing is that the number of actual transactions on the blockchain is low. It may be that the transactions are bigger so the value transferred has not dropped so much. Or maybe now that there are ETFs people can buy a small amount of BTC without going to the chain.
BTC might be able to hold its value without a lot of on-chain transactions but certainly there is not growing interest in payments, say, buying things with BTC.
On the other hand there is a pattern of NFTs that just have not traded much so even though the price is stable you can’t say the price is a real price.
PaulHoule•6mo ago
downrightmike•6mo ago
PaulHoule•6mo ago
BTC might be able to hold its value without a lot of on-chain transactions but certainly there is not growing interest in payments, say, buying things with BTC.
On the other hand there is a pattern of NFTs that just have not traded much so even though the price is stable you can’t say the price is a real price.
https://opensea.io/collection/krunker-collection