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Silvergate’s Clearing Causes Significant Decline in Bitcoin Transactions

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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 b

Silvergates Clearing Causes Significant Decline in Bitcoin Transactions

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.

Silvergate clearing affects or significantly affects Bitcoin trading volume

Analysis based on this information:


A recent report from CryptoQuant showed that the volume of Bitcoin transactions denominated in BTC has dropped by 35% in the past 24 hours due to the influence of Silvergate’s clearing in the market. The report further showed that the total number of transactions on the Bitcoin blockchain fell by 17%, while the number of active addresses declined by 10% during the same period.

CryptoQuant is a blockchain analytics platform that provides real-time tracking of cryptocurrency transactions to facilitate market analysis and forecasting. The platform uses on-chain data from various blockchain networks to generate statistics and reports on transaction volumes, network activities, and market trends.

Silvergate is a digital currency banking platform that offers its services to cryptocurrency exchanges, custodians, and other related businesses. The company is known for its innovative approach to cryptocurrency banking, and its services have become increasingly popular among cryptocurrency traders and investors.

The recent decline in Bitcoin transactions and network activities is likely due to the impact of Silvergate’s clearing on the market. Clearing refers to the process of settling transactions between buyers and sellers of financial assets, such as cryptocurrencies. This process involves the transfer of assets from one party to another, which can affect the liquidity and pricing of those assets.

The decrease in Bitcoin transaction volumes and network activities may have several implications for the cryptocurrency market, including reduced market liquidity, increased volatility, and lower prices. However, it is important to note that cryptocurrency markets are highly complex and influenced by numerous factors, including regulatory developments, market sentiment, and technological innovations.

In conclusion, the recent decline in Bitcoin transactions and network activities reported by CryptoQuant is likely due to the impact of Silvergate’s clearing on the market. While this may have several implications for the cryptocurrency market, it is important to keep in mind that cryptocurrency markets are highly volatile and subject to various external factors. Nonetheless, this development highlights the need for market participants to keep a close eye on regulatory developments and trading activities that can potentially affect the cryptocurrency market.

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