Transaction volume on exchanges reaches new record highs

The last 24 hours are historic for the cryptocurrency market this if we take into account the recent approval of the Bitcoin ETF on US soil, from my perspective turbulent times are ahead but somehow necessary for the maturity of the cryptocurrency sector.

In this post I would like to share with you all some approaches from the article uploaded by William Suberg on the Cointelegraph portal about the certain fact of how miners and traders are preparing for Bitcoin ETF debut, this after the dominance of trading volume on exchanges reaches new all-time highs following the approval of the Bitcoin ETF.

The Suberg article notes that, "Exchange activity remains significantly elevated; 76.4% of bitcoin on-chain volume flows in/out of exchanges, just below the all-time high of 77.4%."

In this regard and according to popular commentator British HODL, "looked to the immediate and longer-term future for bullish signals. ETF trading will begin on January 11, which means that the associated capital inflows, however large, have not yet begun."

It was also mentioned that, "British HODL was referring to the block grant halving event, which will take place in April, and will reduce the "bounty" paid to miners per block by 50% to 3,125 BTC"

Cointelegraph. Priced in or not? BTC miners and traders prepare for Bitcoin ETF trading. Link

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph