Bitcoin Utility Grows During The Bear Market

(source)Regarding the sum of all exchange in-house transactions, the number of deals flowed within the exchanges wallets have been trending lower from the May 2021 peak. (source)Additionally, the number of deals from all exchanges to derivatives exchanges has plummeted as a hint that derivatives trades are not extremely appealing at the moment.Fewer transactions into derivatives exchanges. It suggests an increased supply/demand outside of exchanges, resulting in a high use of the Bitcoin network.High network energy, as total deal count is increasing and exchange deals reducing.

(source)Regarding the sum of all exchange internal transactions, the number of transactions distributed within the exchanges wallets have actually been trending lower from the May 2021 peak. (source)Meanwhile, the total number of withdrawals and deposits to and from exchanges has actually plunged downwards, showing that individuals may be less engaged in the exchanges.The deposits to exchanges plummeted. (source)Additionally, the number of deals from all exchanges to derivatives exchanges has plunged as a hint that derivatives trades are not very attractive at the moment.Fewer deals into derivatives exchanges. (source)In the meantime, there is no additional possibility of cumulative selling pressure due to the considerable drop in the number of deals from all exchanges to find exchanges. It implies an increased supply/demand outside of exchanges, resulting in a high usage of the Bitcoin network.High network energy, as total transaction count is increasing and exchange deals decreasing.