The Bitcoin Monthly, an “earnings report” authored by ARK Invest, that details relevant on-chain activity and showcases the openness, transparency, and accessibility of blockchain data.
- Bitcoin closed the month of May down 17.2%, declining from $38,480 to $31,835.
- Bitcoin still faces an uncertain macro environment, as the global economy shows signs of a recession.
- Terra blowup marks one of the largest fiascos in crypto market history, sending a warning to crypto markets.
- Bitcoin’s on-chain fundamentals remain strong, as short-term holders capitulate.