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UTXO Count Spiked in 2023 - Why?
119 sats \ 6 comments \ @catdaddysoprano 29 Jan AskSN
I've posted this question on Nostr and received no response so perhaps one last whimper into the void. Can anyone explain why the number of UTXOs has gone ballistic ever since late April of 2023?
It does not coincide with the ETFs launch, there wasn't a halving at that time, and it also was midway through the Fed's rate hiking cycles (and critically not at some shift from hawkish to doveish policy). So what gives? Why'd this start happening?
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0 sats \ 0 replies \ @catdaddysoprano OP 29 Jan
I've never heard of this I'll look into it, thank you for responding!
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0 sats \ 0 replies \ @catdaddysoprano OP 29 Jan
Suppose it's worth identifying that the UTXO spike (in April 2023) does seem to lead the price increase by a fair bit, so while I respect position that 'price go up, UTXOs go up'... I think this chart still indicates a drastic UTXO shock upwards that continued despite pauses in price action.
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