Analysis Today TheBitTimes.com

Since February 2024, Bitcoin (BTC) has traded in a price range between $60,000 and $72,000, with two deviations. This has carved a mostly neutral momentum for the leading cryptocurrency, now seeing its trading and transaction volume fade away. Finbold retrieved data from Santiment on June 2 showing both metrics with the BTC price, currently at $68,100. In particular, the seven-day trading volume plummeted below $14 billion to the same level as 2023, when Bitcoin traded below $30,000. Moreover, the chart evidences a lack of interest in Bitcoin trading and on-chain transaction volume s, with the second remarkably low. As observed, the network registered only 722,000 BTC moved in seven days. This contrasts with the 1.79 million BTC in October 2023, with a similar trading volume and half the price. Picks for you Economic meltdown imminent...

According to recent data compiled on Dune Analytics, Banana Gun, a Telegram DEX trading bot, has shown daily trading volume of over $16 million. This is part of a growing trend in bot usage, which is now estimated to exceed a cumulative total of $4 billion. Banana bot active users The Dune Analytics dashboard shows that the trading bot registers approximately 19,000 trades daily among its 3,000 active users. Since its inception in June, the platform has garnered a substantial user base, boasting almost 46,046 lifetime users. This popularity is reflected in its lifetime trading volume , which has reached a substantial $589 million. Banana Gun Bot | Source: DuneAnalytics Banana Gun is just one of the categories of trading bots that developers create for users to easily trade meme coins, farm airdrops, and bridge tokens.  You might also like: Dune analytics finds false data on Uniswap’s NFT aggregator A subject of hacking Unfortunately, alon...

Key Takeaways Volatility briefly rose in crypto markets last month but is back near all-time lows Capital flight out of the space has been enormous, with liquidity also at multi-year lows Trading volume continues to decline, with Binance’s volume down 95% from the peak in 2021 Ethereum is now trading at a similar volatility to Bitcoin A combination of tight monetary conditions in the economy, as well as crypto-specific scandals and a regulatory crackdown, have all made their mark on the space Volatility in the crypto markets is back to multi-year lows. After a brief pickup amid the positive ruling on the Grayscale ETF case last month, markets are back to the placid state we have become familiar with this year. Looking at 90-day annualised volatility, both Bitcoin and Ethereum are close to the lowest levels we have seen. The chart below shows that, aside from three isolated episodes, we have seen volatility in a near-constant state of decline since ...