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There is high blockchain activity if you consider ETH and ETH layer 2s. A lot of BTC activity happens on ETH as WBTC at this point anyway.
by thebean11 5y ago
There is high blockchain activity if you consider ETH and ETH layer 2s. A lot of BTC activity happens on ETH as WBTC at this point anyway.
- Andrew_nenakhov 5y agoSo in january-may there was a lot of on-chain activity [1], just like in 2017, but by now it all somehow moved to ETH? Hmm. [1] https://jochen-hoenicke.de/queue/#BTC,all,weight https://jochen-hoenicke.de/queue/#BTC,all,weight
- keymone 5y agohttps://bitcoinvisuals.com/ln-capacity https://bitcoinvisuals.com/ln-capacity
- Andrew_nenakhov 5y agoI consider high on-chain activity to be an indicator of new people getting into bitcoin, bringing in new money, which drives the real valuation higher. In this regard, LN effect, as important as it might be, is not relevant: new money are not brought in via LN.
- thebean11 5y agoNobody is claiming all on-chain activity has moved to ETH. BTC is not the only chain though..