Citi Research: Altcoins will benefit more from regulatory easing, and there has not yet been a significant increase in on-chain activity
ChainCatcher news, according to Coindesk, Citibank released a research report on Thursday, where analysts led by Alex Saunders wrote that digital asset-friendly Paul Atkins has been nominated to serve as SEC chairman, providing the final push needed for Bitcoin to break through 100,000.As adoption increases, Bitcoin continues to be supported by ETF funds and other purchasing power. However, altcoins may benefit more from a looser regulatory environment, as Bitcoin's dominance has recently declined.Analysts also noted that there has not yet been a significant increase in on-chain activity. In the long run, the network's utility or value will be tied to its usage, macro correlation, and production costs.