Bitcoin Ordinals Trading Is Down Bad—But Just How Bad? - Decrypt

Bitcoin Ordinal sales volumes have allegedly dropped 97% from May to August, leading to speculation about the decline of Ordinals, but some in the community are pushing back against the accuracy of the report and pointing out discrepancies in the data provided by different sources.

decrypt.co

Relevant topic timeline:

8/21/2023

Ordinals still make up majority of Bitcoin txs despite price collapse

Despite recent price declines and claims that the hype around Bitcoin NFTs has died down, ordinal inscriptions continue to dominate activity on the Bitcoin network, accounting for nearly 85% of all transactions.

8/24/2023

After a brutal month for Bitcoin, crypto industry insiders share what might come next

Bitcoin prices experienced a sudden drop last week, with analysts attributing it to large liquidations of perpetual futures and a report that SpaceX had sold the cryptocurrency, while industry insiders have mixed opinions on the impact of spot bitcoin ETFs and Coinbase's investment in Circle.

8/28/2023

Bitcoin trading volume is at its lowest in more than four years

Bitcoin's trading volume has reached its lowest level in four years, with investors waiting for reasons to reenter the market, as the price of bitcoin remains up 57% for the year but has struggled to rebound from its recent decline.

8/30/2023

Here’s How Far Bitcoin (BTC) Could Fall in September, According to Crypto Analyst Benjamin Cowen - The Daily Hodl

Bitcoin could experience a major market correction in September, potentially dropping by more than 16% based on historical performance and predictions by crypto analyst Benjamin Cowen.

9/1/2023

Bitcoin, Ethereum Trading Volumes Headed for Worst Quarter Since 2019 - Decrypt

Bitcoin's spot trading volumes for the current quarter have been significantly lower compared to previous quarters, potentially indicating a decline of around 14% month over month, while Ethereum's trading volumes are also at a level not seen since 2019, suggesting a similar trend for the cryptocurrency.

9/5/2023

Bitcoin Is Falling as Analysts See More Declines Ahead. Where the Drop Could Stop.

Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.

9/12/2023

Crypto Trading Volume Hits Multi-Year Lows in August Amid SpaceX Sale and SEC Defeat

Crypto spot trading volume on exchanges dropped significantly in August, reaching the lowest monthly total since March 2019, due to bearish price action and factors such as SpaceX's Bitcoin sale and Grayscale's victory over the SEC.

9/14/2023

Bitcoin Onchain Activity Hits Record Low as Long-Term Holders Control Supply

The percentage of bitcoin's circulating supply that has been active onchain recently has reached a record low, indicating supply-side weakness and potentially setting the stage for a significant price rally.

Topics

Posted 8/23/2023, 3:16:38 PM