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The latest report by Goldman Sachs showcased on-chain statistics for May, revealing a mixed picture surrounding the adoption of Bitcoin. The report noted that Bitcoin saw a 31% monthly decrease in its addresses that exceeded a balance of 100,000 BTC. Investors are paying attention, and many have begun looking elsewhere for alternatives, and the Tradecurve hybrid exchange has gained a high level of popularity as it can revolutionize how each investor interacts with the crypto trading market.
Summary
Bitcoin Estimations Based on Goldman Sachs
Based on the report by Goldman Sachs, the Spent Output Profit Ratio (SOPR) for Bitcoin, a metric that indicates the degree of realized profit, saw numerous spikes throughout May and saw levels last seen in December 2020. This data suggested a high level of profit-taking within the spot market. They also noted that there was a sharp 12% decline in the amount of Bitcoin that is held on exchanges and further highlighted in the report that the Bitcoin average mean hash rate, referring to the total combined computational power used to mine and process transactions on the blockchain, surpassed its all-time high in May and gained 5.4% during the month. Miner revenue for Bitcoin miners increased by 16.4%.
As of June 7, 2023, Bitcoin traded at $26,702.85. In the last week, Bitcoin saw a low point at $25,459.93, with a high point at $27,300.13. It is still far away from it’s all-time high of $69,044.77, and the cryptocurrency saw a decrease in value of 4.4% in the last 30 days but has been up by 2.7% in the last 24 hours.
How Tradecurve Can Revolutionize The Trading Market
While competing exchanges are being attacked by the SEC, as is the case with Binance and Coinbase, investors are looking for alternatives that are decentralized and where they do not need to worry about their cryptocurrencies. Tradecurve has stood out as a major player in this competition, as it provides non-custodial, borderless access to trading, and removes KYC requirements while also maintaining the lowest fees in the industry.
Many crypto traders can deposit crypto and use it to trade any derivative on top of the platform. Tradecurve unites all of these assets in a new on-chain trading platform, with Proof of Reserves (PoR) and a high level of security. From high leverage to a VIP account service, negative balance protection, and algorithmic trading using AI, Tradecurve can become a dominant force in the Web3 space and can revolutionize the trading market.
During Stage 3 of the presale, 1 TCRV token trades for $0.015. 37,991,301 tokens have already been sold during this stage, and the cryptocurrency will climb by 20% during the next stage. Based on the overall offering, market movement, and distrust in CEXs, analysts believe Traceurve is in a position where it can climb 100x at launch.
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