Increasing Network Demand Drives Bitcoin to new All-Time Highs | Coinscrum Markets w/ James Bennett

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Published Apr 18, 2021

This week's big news has been all about Bitcoin and Binance. At the beginning of the week, Bitcoin broke $60k and soared to a new all-time high. Our on-chain data indicates that the daily transaction volume on the Bitcoin Network is growing from $8 billion to $10 billion, which indicates strengthening network demand. What's even more interesting is that this occurred while volatility was falling. You can read more about this in our weekly insight.

Binance also found itself in the spotlight this week as BNB (Binance Coin) saw an explosion in growth. In this video, James gives his take on where this growth has originated from.

James Bennett, CEO of ByteTree, host Coinscrum Markets On-Chain Reaction.

DISCLAIMER: This entire presentation is for informational purposes only and in no way constitutes investment advice

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???? TIMECODES

00:00 Intro
00:32 Bitcoin hits a new all-time high
01:16 Bitcoin's volatility drops - now lower than Tesla stocks
02:41 Bitcoin accumulation by funds has more than doubled since January
03:51 Bitcoin fees stabilise around 9% of miner revenue
04:37 What has attributed to the Binance coin (BNB) explosion?
06:01 The extensive growth of PancakeSwap has contributed to Binance's recent success
06:54 The PancakeSwap application captures 75% of decentralised exchange (DEX) users
07:55 Over $17Bn has been borrowed across decentralised markets

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