BitMEX Research Discusses the Implications of Taproot Usage and Market Behavior

12/12/2024 3:00:51 PM

According to BitMEX Research, the use of Taproot in Bitcoin transactions, despite potential negative perceptions, ultimately contributes to driving transaction fees. The tweet questions whether the usage of technologies like Babylon Taproot is inherently negative or if it supports mechanisms like EigenLayer staking. Additionally, it highlights the behavior of users spending Taproot outputs to transfer funds to exchanges such as Binance, potentially for purchasing questionable assets. (Source)

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