The second quarter of 2024 brought about substantial changes in the crypto market. Bitcoin and Ethereum experienced price declines despite major events, including Bitcoin’s halving and the approval of Ethereum ETFs. Crypto prices struggled, with Bitcoin falling 12.8% and Ethereum 3.1%. Here’s an analysis of key on-chain developments for Bitcoin and Ethereum during this quarter.
The Bitcoin halving on April 20 reduced its annual issuance rate from 1.7% to 0.85%. However, Bitcoin’s price continued its downward trend. The halving was likely already factored into the price, with Bitcoin reaching an all-time high prior. Long-term holders took profits, contributing t…
The post Ethereum’s L2 Surge and Bitcoin’s Miner Exodus: Key On-Chain Trends in Q2 2024 appeared first on Coin Edition.
The second quarter of 2024 brought about substantial changes in the crypto market. Bitcoin and Ethereum experienced price declines despite major events, including Bitcoin’s halving and the approval of Ethereum ETFs. Crypto prices struggled, with Bitcoin falling 12.8% and Ethereum 3.1%. Here’s an analysis of key on-chain developments for Bitcoin and Ethereum during this quarter.
The Bitcoin halving on April 20 reduced its annual issuance rate from 1.7% to 0.85%. However, Bitcoin’s price continued its downward trend. The halving was likely already factored into the price, with Bitcoin reaching an all-time high prior. Long-term holders took profits, contributing t…
The post Ethereum’s L2 Surge and Bitcoin’s Miner Exodus: Key On-Chain Trends in Q2 2024 appeared first on Coin Edition.