Bitcoin surged above $27,000 price range fueled by on-chain activities.
that the daily active addresses hit a multi-month high, rising from 754,000 two years ago to a whopping 1.08 million on September 15th.Despite this increase in on-chain activity, Bitcoin’s trading volume has maintained a relatively consistent level.
Such a trend observation could potentially indicate that the heightened on-chain activities may not have translated into substantial trading actions. Furthermore, the growing outflow of BTC from exchanges indicates a rising trend of holding and potentially making long-term investments in Bitcoin in the market over this period, as shown in the chart above.for the flagship crypto, which is anticipating its halving event sometime mid-next year.
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