Bitcoin Utility Returning To Q1 Bull Run Levels: Prelude For Another Rally?

Quick Summary:

On-chain data shows the utility on the Bitcoin network has been making a comeback recently, something that could pave way for another price rally.

The Circulation sort of solves this issue by giving every token that has transacted on the network the same weightage, regardless of how many times it may have moved.

The fact that the Circulation had slumped to low levels after the asset’s top may explain why the coin had found struggle in putting together any further lasting bullish momentum.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets: Hungary

Topics: Bitcoin Circulation Bitcoin utility Btcusd Bitcoin Bull Run Bitcoin News Bitcoin Btc Bitcoin Rally

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 01:30:40 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 470 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21879490

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 10 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 12 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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