G’day Folks,
It’s been a few weeks since we completed a good old fashioned market update, looking at both onchain, spot, derivatives and ETF sectors.
One of the more intriguing developments is the slow down in onchain activity. Fee revenues are very low, onchain volumes are declining, and transaction counts have fallen off a cliff.
In today’s report, I will assess the market across all market sectors, and dedicate some time to working through why onchain activity may be slowing down like this.
Let’s dig into the data.
Note: This week, we’re testing out Substack’s ‘video post’ format. Free subscribers will get a short preview of the video, and paid subscribers will be able to watch, or listen to the full update directly from the Substack app. As usual, the full Youtube version is available in the paid section below!
Please let us know in the poll below if you like this feature, as we are deciding whether to continue using this in the future.
Premium Members will find the TL:DR summary and YouTube video update below. Consider upgrading to premium today to unlock the rest of the content!
