Bitcoin's on-chain transaction volume has dropped to a multi-year low, according to data analysts. Despite an increase in demand for the cryptocurrency, the average traded volume has fallen to nearly five-year lows. The total volume of Bitcoins held on all cryptocurrency exchanges also fell to its lowest level since 2018 earlier this month. However, experts believe that the market could be waiting for a spot ETF approval in the United States, and Bitcoin's mainstream adoption is expected to continue in the coming years.
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