Bitcoin on-chain summary: All red on-chain

All the on-chain numbers we track see red developments over the past seven days, as both bitcoin’s price and the network activity suffer.

Daily miner revenues have declined by 8% over the past seven days and are now back below $40 million, where they have stayed for most of 2022.

After staying at some of its highest levels so far in 2022, transaction fees see a massive 33% decline and are now just above 1% of miner revenues. Mining economics continue to be entirely dependent on the block subsidy.

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