In a note, David Lo, head of financial products at Bybit, wrote that on-chain activity shows bitcoin holdings by long-term investors are reaching record levels, while Ethereum’s gas usage is dropping significantly, leading to faster ether inflation. Bitcoin has increased its dominance – its share of the overall market capitalization of cryptocurrencies – while notching gains relative to ether.
Source: https://www.coindesk.com/markets/2023/10/16/market-wrap-bitcoin-hovers-above-28k-after-etf-reports-prove-false/?utm_medium=referral&utm_source=rss&utm_campaign=headlines