After a rather tumultuous week, $BTC and the rest of the crypto market appear to be recovering, with #Bitcoin rallying to break its all-time high and quickly approaching $20k.
Read more | #TheWeekOnChain
Read more | #TheWeekOnChain
#Ethereum 2.0 (Beacon Chain) is ought to launch in less than an hour.
880,000 #ETH have been staked to date. Around 355,000 more than the minimum amount required.
Live chart | @glassnode
880,000 #ETH have been staked to date. Around 355,000 more than the minimum amount required.
Live chart | @glassnode
Almost 19.6 million #Bitcoin addresses were active in November sending or receiving $BTC.
That is the third-highest value in Bitcoin's history – only topped in December 2017 and January 2018.
Live chart | @glassnode
That is the third-highest value in Bitcoin's history – only topped in December 2017 and January 2018.
Live chart | @glassnode
In November, a total of $126 billion USD were settled on the #Bitcoin blockchain.
This amounts to a total volume of 7.7 million $BTC changing hands last month.
Live chart | @glassnode
This amounts to a total volume of 7.7 million $BTC changing hands last month.
Live chart | @glassnode
On-chain metrics show that older #Bitcoin are being sold as $BTC's price increases. This indicates that long-term holders are realizing profits.
But while this might seem alarming, this trend has historically been extremely bullish.
Read more | #Insights
But while this might seem alarming, this trend has historically been extremely bullish.
Read more | #Insights
Glassnode Insights - On-Chain Market Intelligence
Long-Term Holders Are Selling BTC: Why This Is A Bullish Signal
On-chain metrics show that older coins are being sold as BTC's price increases, indicating that long-term holders are realizing profits. But while this might seem alarming, this trend has historically been extremely bullish.
12.9% of the circulating #Bitcoin supply (2.4M BTC) is currently held in exchange wallets – down from 16% at the beginning of the year.
According to our data, the largest holders are:
Coinbase: 4.9%
Binance: 1.6%
Huobi: 1.1%
OKEx: 1.1%
Live chart | @glassnode
According to our data, the largest holders are:
Coinbase: 4.9%
Binance: 1.6%
Huobi: 1.1%
OKEx: 1.1%
Live chart | @glassnode
Around 10% of the #Bitcoin supply was moved at a price above $18,000.
Many investors are valuing BTC above this level, which may indicate their conviction for further $BTC price appreciation.
In contrast: In 2017 at ATH this number was only 2%.
Live chart | @glassnode
Many investors are valuing BTC above this level, which may indicate their conviction for further $BTC price appreciation.
In contrast: In 2017 at ATH this number was only 2%.
Live chart | @glassnode
The third #Bitcoin "valley of loss" closes, as $BTC hovers around $19,000 in this bull market.
All long-term holders (who currently own 75% of the BTC supply) are now in a state of profit.
Once more, hodling and a low time preference paid off.
Live chart | @glassnode
All long-term holders (who currently own 75% of the BTC supply) are now in a state of profit.
Once more, hodling and a low time preference paid off.
Live chart | @glassnode
During Week 49, $BTC recovered from the previous week's consolidation and stabilized around $19k.
On-chain signals suggest that a further correction may be seen before #Bitcoin breaks above $20k sustainably.
Read more | #TheWeekOnChain
On-chain signals suggest that a further correction may be seen before #Bitcoin breaks above $20k sustainably.
Read more | #TheWeekOnChain
Glassnode Insights - On-Chain Market Intelligence
The Week On-Chain (Week 49, 2020)
During Week 49, BTC recovered from the previous week's consolidation and stabilized around $19k. On-chain signals suggest that a further correction may be seen before bitcoin breaks above $20k sustainably.
The #Ethereum 2.0 deposit contract continues to amass ETH.
The total value staked is now at almost 1,300,000 ETH – around 250% of the phase 0 goal.
Yesterday alone, over 81,500 $ETH were deposited to the contract.
Live chart | @glassnode
The total value staked is now at almost 1,300,000 ETH – around 250% of the phase 0 goal.
Yesterday alone, over 81,500 $ETH were deposited to the contract.
Live chart | @glassnode
From #CeFi to #DeFi in one picture.
The amount of fees on #Ethereum spent on $ETH deposits to centralized exchanges has fallen from ~25% in 2017 to less than 1% today.
Almost all fees spent on txs involving centralized exchanges in the past months were used for ETH withdrawals.
Live chart | @glassnode
The amount of fees on #Ethereum spent on $ETH deposits to centralized exchanges has fallen from ~25% in 2017 to less than 1% today.
Almost all fees spent on txs involving centralized exchanges in the past months were used for ETH withdrawals.
Live chart | @glassnode
#Bitcoin Realized Cap (entity-adjusted) has reached $150 billion!
It has increased a whooping 50% since the beginning of the year, and 25% in the past two months alone.
Entity-adjustment accounts for BTC that actually changes hands.
Live chart | @glassnode
It has increased a whooping 50% since the beginning of the year, and 25% in the past two months alone.
Entity-adjustment accounts for BTC that actually changes hands.
Live chart | @glassnode
$BTC started and ended the past week just above $19k, failing to top its recent ATH.
But despite its mostly sideways movement over the past few weeks, #Bitcoin's on-chain signals remain long-term bullish.
Read more | #TheWeekOnChain
But despite its mostly sideways movement over the past few weeks, #Bitcoin's on-chain signals remain long-term bullish.
Read more | #TheWeekOnChain
Glassnode Insights - On-Chain Market Intelligence
The Week On-Chain (Week 50, 2020)
BTC started and ended the past week just above $19k, failing to top its recent ATH. But despite its mostly sideways movement over the past few weeks, on-chain signals remain long-term bullish.
The #Bitcoin RHODL Ratio is a new on-chain market indicator that helps time $BTC tops. It is currently on a steady upwards trend in its 4th cycle, painting a bullish long-term picture.
Still far away from its 2017 top, it shows that $BTC has still room to grow from here.
Live chart | @glassnode
Still far away from its 2017 top, it shows that $BTC has still room to grow from here.
Live chart | @glassnode
Liquidations of short positions on #Binance in the past hour: $94,293,438
#Bitcoin
Live chart | @glassnode
#Bitcoin
Live chart | @glassnode
The number of #Bitcoin addresses holding at least $1M USD has gone parabolic.
It increased +150% to 66540 addresses.
Why?
$BTC crossing $20k has turned all early miner addresses (50 BTC block rewards, unspent or lost) into millionaire addresses.
Live chart | @glassnode
It increased +150% to 66540 addresses.
Why?
$BTC crossing $20k has turned all early miner addresses (50 BTC block rewards, unspent or lost) into millionaire addresses.
Live chart | @glassnode
Long positions are increasingly paying shorts:
Funding rates for futures contracts are on the rise, reaching a mean of 0.065% across exchanges.
While #BitMEX has the highest rate (1.04%), #Bitfinex is the only exchange with a negative rate.
#Bitcoin
Live chart | @glassnode
Funding rates for futures contracts are on the rise, reaching a mean of 0.065% across exchanges.
While #BitMEX has the highest rate (1.04%), #Bitfinex is the only exchange with a negative rate.
#Bitcoin
Live chart | @glassnode
1.78 million bitcoins have never left their miner address.
That is 9.5% of the circulating #Bitcoin supply.
Our analysis shows that 98% of those coins were mined more than 7 years ago, and 94% more than 10 years ago.
Most could be lost forever.
Live chart | @glassnode
That is 9.5% of the circulating #Bitcoin supply.
Our analysis shows that 98% of those coins were mined more than 7 years ago, and 94% more than 10 years ago.
Most could be lost forever.
Live chart | @glassnode
#Bitcoin smashed through its previous all-time high to find support above $23k for the first time ever.
Despite falling back into the $22,000s, on-chain fundamentals remain strongly bullish for $BTC and other cryptos.
Read more | #TheWeekOnChain
Despite falling back into the $22,000s, on-chain fundamentals remain strongly bullish for $BTC and other cryptos.
Read more | #TheWeekOnChain
Glassnode Insights - On-Chain Market Intelligence
The Week On-Chain (Week 51, 2020)
BTC smashed through its previous all-time high to find support above $23k for the first time ever. Meanwhile, on-chain fundamentals remain strongly bullish for BTC and other cryptocurrencies.