Bitcoin Inopinda Hibernation Modhi seNetiweki Chiitiko Lulls

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Bitcoin Inopinda Hibernation Modhi seNetiweki Chiitiko Lulls

Bitcoin has seen a tremendous slow down in network activity following the market crash in mi-June. This drawdown was expected as a reduction in network activity usually follows a rush to get out of the digital asset during the decline. This lull has brought various metrics back towards normal territories and daily miner revenues remain drowsy during this time.

Network Activity Inononoka

Mushure memutengo we bitcoin had crashed to $17,600, there was a rush to get out of the digital asset. This had led to a tremendous surge in network activity. Average transaction volume had shot up from around $18,000 to $37,000 during the past week as volatility rocked the market. Mostly, these moves were triggered by fear that the price of the cryptocurrency would continue to decline.

Related Reading | Holding Back The Bears: Why Bitcoin Must Break $22,500

However, as the price of bitcoin has stabilized, the network activity has begun to return to normal levels. This is seen in the average transaction value for this week which has fallen by almost 50% to return to the $18,000 level. Additionally, on-chain activity has now dropped so low that it has now entered what is referred to as a hibernation mode. 

Transactions pazuva pane network yakadererawo nekugadzikana kunodzokera kumusika. Huwandu uhu hwanga hwave pa252,382 paavhareji kwesvondo rapfuura asi iko zvino hwagara pa242,737 vachimiririra kudonha -3.82%.

BTC price declines to $19,000 | Source: BTCUSD on TradingView.com

The same has been the case for the total daily transaction volumes. While investors had scrambled to exit their positions, daily transaction volumes had risen to more than $9 billion. However, with bitcoin stabilizing at around $20,000, this value has dropped to $4.4 billion, a 51.75% change from the prior week.

Bitcoin Miners Take Hits

Bitcoin miners have been one of the worse-hit when it comes to the changes that are happening in the market. An example is the daily miner revenues that are being recorded for the last couple of weeks.  It had declined significantly in the month of June, and there has been no recovery in sight.

Vhiki rapfuura rakanga raona mari dzezuva nezuva dzichibata madhora gumi nemasere emamiriyoni pazuva, uye nesvondo rapfuura, hapana shanduko yakawanda. Kukwira kwe18.3% kwaireva kuti mari dzemazuva ese dzemugodhi dzakakwira kusvika pamadhora gumi nemasere.

BTC hashrate declines | Source: Arcane Research

Iri zvakare kupenya kuburikidza mune hashrate iyo yatorawo zvishoma yemhino. Mushure mekurova hutsva hutsva hwekutanga mumwedzi, kuderera kwave kuri pachena kusvika zvino. Icho mhedzisiro yakananga yekudzikira purofiti, inokanganisa chiyero chekugadzira block.

Zvinoenderana Kuverenga | Bitcoin Inorekodha Kuita Kwakaipisisa KwaJune, Zvichave Nani Kubva Pano?

Huwandu hwemabhuraki akagadzirwa paawa svondo rapfuura akabuda kusvika ku5.85, uye sezvo hashrate inotarisirwa kuramba yakaora mwoyo nekuda kwekushomeka kwemari, panogona kunge pasina kupora kwakawanda mukugadzirwa kwe block. Kuderera uku kwakashandurawo kuderedza mitengo yeASIC.

Pakupedzisira, mubhadharo pazuva zvakare wakadzikira zvakanyanya panguva iyi. Mushure mekubata $437,159 musvondo rapfuura, kudonha kwe28.59% kwakaona mubhadharo pazuva resvondo rapfuura uchibuda kusvika kumadhora mazana matatu nemakumi mapfumbamwe nemashanu.

Mufananidzo unoratidzwa kubva kuFinbold, machati kubva kuArcane Research uye TradingView.com

Tevedza Best Owie pa Twitter kuti uwane ruzivo rwemusika, zvigadziriso, uye dzimwe nguva inosetsa tweet…

Original source: NhauBTC