Ethereum also witnessed a similar trend to Bitcoin. Data from Sentora shows that the leading altcoin saw major outflows during the week, coming to a total of about $600 million.
Data from Sentora, as shown above, points to reduced activity in these blockchains that suggests the required bullish activity may not be there yet. The total fees on the Bitcoin blockchain come out to be $2.03 million, an 8.6% reduction from the previous week. The Ethereum network also saw a 13.2% fall in fees, coming out to $5.05 million.
Featured image from Pexels, chart from TradingView
