Bitcoin Daily Transfer Volume Shrinks To Pre-Bull 2020 Levels After FTX-Led Surge

The on-chain activity for Bitcoin (CRYPTO: BTC) witnessed a short-term burst of new addresses in the wake of the FTX fiasco but has since cooled off significantly. What Happened: According to Glassnode insights, the monthly average of new BTC addresses is now leveling out to the yearly average baseline, suggesting that network usage is yet to achieve a consistent and steady recovery.