In bear markets, holders accumulate showing unwavering faith. The other side of that is a decrease in the “willingness to spend” or use the assets. The latest Intotheblock report “highlights the diverging pictures between on-chain demand and accumulation of the largest two crypto-assets.” Some people still have trouble admitting we’re currently in a bear market, but the signs are everywhere.
Why would you move your money if your goal is to accumulate? It doesn’t make sense. The whole situation Intotheblock describes, though, makes all the sense in the world.
Signs Of Blockchain Activity Decreasing
According to the report, this month had “the lowest on-chain activity in years.” Let’s examine the indications that Intotheblock identified, and then we’ll get to holders and their need to accumulate.
“Network fees for Bitcoin and Ethereum reached multi-year lows.”
This is one of the clearest and easier-to-determine indicators. Especially in Ethereum, since that blockchain’s main...
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