Recently, BitcoinThe transaction volume of blockchain has significantly increased, breaking the annual transaction record of $100000.According to the latest data from blockchain analysis company IntoTheBlock, the number of transactions carrying BTCs worth at least $100000 in the past week has reached 23400, exceeding the annual peak
- Recently, BitcoinThe transaction volume of blockchain has significantly increased, breaking the annual transaction record of $100000.
- According to the latest data from blockchain analysis company IntoTheBlock, the number of transactions carrying BTCs worth at least $100000 in the past week has reached 23400, exceeding the annual peak.
- It is widely expected that a series of spot exchange traded funds (ETFs) will receive approval from the US Securities and Exchange Commission (SEC) early next year.
Bitcoin's online whale trading volume has broken a new record, sparking hope for further growth: ETF expectations have revitalized the market!
A New Record of Bitcoin Blockchain Transactions
Recently, BitcoinThe transaction volume of blockchain has significantly increased, breaking the annual transaction record of $100000.
When the price of Bitcoin exceeds $35000, on chain activities begin to increase. This indicates that influential investors and 'whales' are actively participating in cryptocurrencies. The latest data from blockchain analysis company IntoTheBlock shows that the number of BTC transactions worth at least $100000 in the past week has reached 23400, exceeding the annual peak.
Since last week, the price of Bitcoin has risen to over $35000, reaching its highest level since the beginning of 2022. In addition, Bitcoin has increased by 27% this month, up 107% from the beginning of the year. The latest report from IntoTheBlock emphasizes that Bitcoin spot ETF applications have sparked interest among whales and institutional investors.
The increasing interest in Bitcoin may be related to the trend that began at the end of June after the exit of BlackRock ETF, leading to Bitcoin reaching a new price level that has not been seen in a year. The recent increase in whale activity may be a sign of what may happen in 2024.
Is ETF about to go public?
In addition, it is widely expected that the US Securities and Exchange Commission (SEC) will approve a series of spot exchange traded funds (ETFs) early next year. Analysts believe that the launch of BTCETF may push the market value of Bitcoin to $42000 or even higher.
Blockchain data also indicates that the participation of small investors has increased in recent weeks. According to Deutsche Digital Asset data, the on chain activity index of small participants hit an annual high of 1.5 last week. The participation of small investors is considered a key factor in the sustained bull market in crypto assets.
The impact on counterfeit coins
The previous COINOTAG report emphasized that due to the support of major participants and improved profitability, PepeCoin and FlokiInu broke through monthly resistance levels, and the price of Bitcoin reached $35000. On chain data shows a significant increase in large investor activity around FlokiInu and PepeCoin. After exceeding the monthly key resistance level, the price volatility of both tokens increased. However, some people are concerned that if prices remain stable, these investors may sell their holdings.
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