Investors’ concern of the impact of the Fed monetary policy decisions over the US financial markets has been affecting crypto markets as well during the last 2 months. Particularly, we’ve seen crypto prices broadly move closer to risk-on assets such as tech stocks. Correlations between both growth/tech stocks are currently high both for Bitcoin and Ethereum, but we have historically seen that Ethereum has been more correlated to growth/tech than Bitcoin.
The drop in prices has calmed down a large part of the speculation that usually drives crypto markets and some of the on-chain activity has taken a dip as well. A large part of the trading volume is done by institutions and as can be seen in the next indicator by the large transactions volume. This week between $3 to $6 billion are traded daily on the Ethereum blockchain, while in the summer hype of last year an all-time high of $300bn was reached.
Large Transactions Volume in USD as of Feb. 15th via IntotheBlock indicator.
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We współpracy z: https://cryptoslate.com/ethereum-on-chain-activity-cools-off-during-macro-uncertainty/
