Recent on-chain data reveals a significant increase in Bitcoin network activity metrics despite the cryptocurrency's price hovering around $105,000. Santiment, an on-chain analytics firm, reports a notable uptick in Bitcoin activity, focusing on two key indicators: Circulation and Network Growth. Circulation tracks the total unique tokens involved in daily transactions, providing insight into organic blockchain activity. In contrast, transaction volume measures total network activity, including repeat token transfers. The recent spike in Circulation, reaching 241,360 coins, indicates a surge in transaction activity. Additionally, Network Growth, with 556,830 new addresses created, suggests growing adoption. The analytics firm views increased on-chain activity as a positive sign for the crypto market. Despite Bitcoin's price stability around $104,500, monitoring network activity trends remains crucial for market observers. Read more AI-generated news on: https://app.chaingpt.org/news

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