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Bitcoin Transaction Flow Dips; dYdX Bridge Ends; Cetus Restores Operations
The 7-day average of on-chain Bitcoin transactions has decreased to 317,000, reaching the lowest point since October 2023. Miner revenues are under pressure, leading some to initiate transactions with minimal fees (1 sat/vB). This may indicate weak demand or be a mere temporary pause.
Over 52 million ethDYDX tokens remain untransferred as the support for the dYdX bridge ends tomorrow. The community has voted to discontinue support for the Ethereum bridge. Users who do not complete migration risk losing access to utilities and governance features.
Cetus resumes full operations today after recovering from an attack, with liquidity restored to 85-99% in affected pools. This is a key step in restoring the Sui DeFi ecosystem. All functions, including swaps, pool management, and rewards, are now available again.
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AI Analysis
The significant drop in the 7-day average of on-chain Bitcoin transactions suggests a potential shift in market activity. This decline to 317,000 transactions, the lowest since October 2023, could ref...
AI Recommendation
Investors should approach Bitcoin with caution given the recent decline in transaction activity, which may indicate short-term weakness or a pause in market momentum. Monitoring miner revenue trends a...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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