Silvergate’s clearing
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Silvergate clearing affects or significantly affects Bitcoin trading volume
On March 9, data from CryptoQuant showed that due to the impact of Silvergate’s clearing on the market, the volume of transactions denominated in Bitcoin fell by 35% in the past 24 hours. At the same time, the total number of transactions on the Bitcoin blockchain decreased by 17% and the number of active addresses decreased by 10% in the same period. Interpretation of this information: The cryptocurrency market experienced a substantial decline on March 9, 2021, with Bitcoin suffering the most significant blow. CryptoQuant, the blockchain analytics platform, reported…
