Bitcoin (BTC) price could rise further based on low retail activity

Speculative on-chain trading, either through bitcoin inscriptions or transactions that interact with non-fungible tokens (NFTs) on ether {ETH}}, is another indicator of retail participation. In bull markets, we tend to see high commission levels as investors speculate on the chain, with the 2021 market peak being a prime example. Currently, however, NFT gas usage per ether is only about 2% compared to 2021, when the percentage of gas consumed was 40%, according to Glassnode data.