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Bitcoin and Ethereum fees dropped in a slow week as their prices remained relatively stable compared to the previous week. 
In a recent tweet, the market intelligence platform and advanced DeFi tools provider, IntoTheBlock, torchlights the lackluster activities of <a href="https://thecryptobasic.com/2023/08/03/michael-saylor-says-politicians-regulators-and-investors-endorse-bitcoin-as-valuable-international-asset/" rel="noopener noreferrer nofollow">the bigwigs </a> in the crypto market. 
The firm revealed that Bitcoin (BTC) and <a href="https://thecryptobasic.com/2023/08/03/top-lawyer-says-xrp-only-altcoin-with-legal-clarity-in-us/" rel="noopener noreferrer nofollow">Ethereum (ETH) </a> have seen a relatively sluggish week so far. It attributed the apparent dormancy in trading to August’s historical inactivity trend across trading landscapes. 
IntoTheBlock argued that the August trend’s impact was becoming noticeable in both networks’ fee structures. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> <a href="https://t.co/BvFlHx1fiO" rel="noopener noreferrer nofollow">pic.twitter.com/BvFlHx1fiO</a> 
 <a href="https://twitter.com/intotheblock/status/1687419113436512257?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 4, 2023</a> 
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<h2 id="span-style-font-weight-400-btc-and-eth-fees-decline-span">BTC and ETH Fees Decline </h2> 
IntoTheBlock attached an image to the tweet to shed more light on the declining activity, comparing it with the previous week’s turnout. 
According to IntoTheBlock’s data, Bitcoin, the pioneer crypto, saw a minuscule decrease of 0.06% in its price over the week, settling at $29,282. 
However, the cumulative fees associated with Bitcoin transactions dwindled by a substantial 28.64%, culminating at $3.8 million. As for the exchange flows, there was a marked reduction in outward movement this week. Over $80 million left exchanges compared to an influx of $311 million in the prior period. ... 
<a href="https://thecryptobasic.com/2023/08/04/market-intelligence-firm-points-to-august-inactivity-trend-impacting-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">Read more</a>

Market Intelligence Firm Points to August Inactivity Trend Impacting Bitcoin and Ethereum

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TheCryptoBasic

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