Bitcoin, once hailed as the future of digital cash, is seeing its role evolve in unexpected ways. Recent on-chain data reveals a dramatic decline in the circulation of Bitcoin, raising questions about its current function and future potential. The significant drop in Bitcoin’s “velocity,” an indicator of how frequently the cryptocurrency is being used in transactions, suggests a shift in user behavior and a departure from its original vision as electronic cash.·
For the full story, head over to TheCurrencyAnalytics.com.
