Bitcoin Sustains Bull Run Amidst On-Chain Efficiency and Sliding Fees
Bitcoin Sustains Bull Run Amidst On-Chain Efficiency and Sliding Fees
Bitcoin's on-chain activity has been notably quiet in 2024, characterized by increased network efficiency, contracting block sizes, and a significant 56% year-to-date reduction in daily transaction fees. Despite these metrics, often associated with lower speculative interest, Bitcoin is actively working to maintain its established bullish momentum.
Bitcoin is having a strangely quiet year on-chain. After a wave of speculative flows in 2024, the network now moves with near-clockwork efficiency. The average block size has contracted, daily fees are less than half what they were in January, and the fee-to-reward ratio has dropped toward levels last seen in the year before the […]
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