The daily transaction count has slowly trended higher over the past year, seeing a lull from January to March before trending higher from March to mid-April.The activity was much higher than what it was four years ago. Also, the past cycle’s bull run transaction count was already overshadowed by the activity of the past year.The hash rate also trended firmly higher.
Therefore, the activity has trended higher over the past year, but in the past month, there has been a downturn.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.
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