ethereum on chain activity cools off during macro uncertainty

During times of macro uncertainty, Ethereum on-chain activity slows.

Investors’ concern of the impact of the Fed monetary policy decisions over the US financial markets has been affecting crypto markets as well during the last 2 months. Particularly, we’ve seen crypto prices broadly move closer to risk-on assets such as tech stocks. Correlations between both growth/tech stocks are currently high both for Bitcoin and Ethereum, but we have historically seen that Ethereum has been more correlated to growth/tech than Bitcoin

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