Interest in Bitcoin NFTs experienced a notable decline in recent days. How will BTC be affected in the long run?
witnessed a massive surge in price over the last few days, causing it to jump past the $65,000 mark. However, the same growth wasn’t observed on the Bitcoin network.According to recent data from CryptoSlam, interest in the NFT sector was slowly waning. Notably, sales volume for Bitcoin NFTs fell by 17% over the last 24 hours.
The number of Daily Active Addresses also fell significantly, showcasing that interest in Bitcoin’s ecosystem was waning at press time.A decline in activity on the Bitcoin network can also impact miner revenue. When there’s a decline in activity on the Bitcoin network, there are fewer transactions happening. This translates to lower transaction fees.
In the last few days, the revenue generated by the miners fell from $107 million to $30 million at press time.The hashrate for BTC had also declined in the last few days, which can create difficulties for miners.
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