Furthermore, the report highlighted “the good signs and bad signs” as the prices of cryptocurrencies remain unstable. Let’s take a look at these signs.According to the report, in the thick of the bear market, the fees for processing transactions on the Ethereum chain dropped to the lows it recorded in December 2020.all-time, the “less utility, declining address activity, and minimal, speculative fever across the range of DeFi and NFT protocols” led to the decline in ETH transaction fees.
While noting that this qualifies as one of the positive sides of the bear run so far this year, Santiment pointed out that with the rising price of the Ether coin, a slight increase in the cost of each transaction should be expected.Another “good” of the bear market, according to Santiment, was that as a result of fears of potential liquidation, MakerDAO debt levels have consistently dropped amid the bear run.
While the current position of the coin’s 30-day MVRV was far from the +15% danger zone, Santiment stated that “there is still an increased risk being invested in an asset that is above its resting average of 0%.”Subscribe to get it daily in your inbox.
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Fuente: CryptoAmb - 🏆 22. / 68 Leer más »