**Crypto Market Update: Retail Activity and Trends**
Hey crypto enthusiasts! đ Hereâs a quick dive into the latest trends in the blockchain and cryptocurrency world:
- **Coinbase App Rankings**: In past bull markets (2017, 2021), Coinbase topped app store downloads. Currently, it sits at 438, indicating low retail interest.
- **Bitcoin Short-Term Holders**: Short-term holders own around 2.5 million BTC, a level typical of bear markets. This suggests the current rally hasn't reached a peak.
- **Retail Transfer Volumes**: Retail volumes are half of what they were at the 2024 peak. Bitcoin fees and active addresses are also at cycle lows.
- **NFT Gas Usage**: NFT-related gas usage on Ethereum has plummeted to 2%, down from 40% in 2021.
- **Memecoin Surge**: Memecoins are booming, with new memes up 2,040% and old ones up 105% YTD.
What do you think these trends mean for the market? Drop your thoughts in the comments! đ
