According to Insight data for YFI and MKR, on-chain activity for both assets has started to dip. This can be a concerning sign, but not necessarily so as it could also just be a normal market reaction to rising prices. Let’s look at some factors you might want to consider before making any investment decisions based on this data alone.
Historically, when prices rise then on-chain activity follows in the short term. This is demonstrated by YFI’s Insight data which shows that the transactions count peaked at a time when the price was still rising.
For MKR, we can see that the opposite is true. As prices started to drop, on-chain activity was noticeably increasing. This could be an indication of new investors buying MKR in anticipation of a price rally.
Ultimately, what you want to watch for when analyzing on-chain activity is whether any changes in activity are telling you anything useful about how the asset will react in future price movements. In the case of YFI and MKR, some clear differences could indicate which asset may be a better investment choice. But as always, do your research to make the best decision for your portfolio.
At the time of writing, FTI/USD trades at $6972. This is a significant jump from the price of $5681 just one week ago. Several factors could be contributing to this upward trend, including positive news in the crypto space, increased institutional interest, and a general increase in trading activity.
One factor that may be driving some of this price movement is the on-chain activity for YFI. As we can see from the data, on-chain activity has been steadily increasing over the past few weeks. This indicates that there may be a growing interest in YFI amongst investors and traders, which could help propel continued price gains going forward.
At the time of writing, MKR/USD trades at $606. This is a slight decrease from the price of $775 just one week ago. Several factors could be contributing to this downward trend, including market volatility and declining investor interest.
One factor that may be having an impact on MKR price movements is on-chain activity. As we can see from the data, on-chain activity has been steadily decreasing over the past few weeks. This may indicate that there is less investor interest in MKR, which could contribute to further price declines going forward.
On the other hand, it’s important to note that MKR has also experienced a sharp price increase over the past week. This could be a sign that investors are shifting their attention away from YFI and to other promising digital assets.
Only you can decide which factors are most important when making investment decisions. Do your research on both YFI and MKR to determine how each asset may fit into your overall
Overall, whether you’re looking at YFI or MKR, it’s important to keep an eye on on-chain activity to get a better sense of market dynamics. While this data can be helpful, it’s important not to rely solely on it when making investment decisions, and always do your research as well.