After the SEC's lawsuit against Binance, there were decreases in Bitcoin and cryptocurrencies, especially BNB.
The leading cryptocurrency BTC fell to $ 25,400, while Ethereum fell to $ 1780.
According to the news of Coindesk, while cryptocurrencies recovered slightly after these drops, a Bitcoin report came from Goldmasn Sachs.
Bank analysts said in their report that on-chain data for May showed a mixed picture for BTC and Ethereum (ETH).
“On the ETH side, the balances remain relatively balanced compared to BTC, while Bitcoin addresses with balances of more than 100,000 BTC see a monthly drop of 31%.”
In addition to the decrease in the number of addresses, Goldman Sachs analysts, who also stated that Bitcoin brought profit in May, stated that the SOPR ratio, which shows the degree of profit realized, increased in May.
“The SOPR rate in Bitcoin reached levels not seen since December 2020 in May.
This shows that a significant amount of profit was made in the spot markets.”
Analysts also noted that the amount of Bitcoin held on exchanges saw a sharp decline of 12%, but the supply of ETH saw a slight increase.
Finally, noting that network congestion in both BTC and ETH came into focus in May, Goldman Sachs analysts said that "network congestion and high transaction fees caused monthly address activity for Bitcoin and Ethereum to drop by 13.8% and 16.7%, respectively. " said.
*Not investment advice.
