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.
Despite the recent rally, #Bitcoin miners are not spending more $BTC than usual.
The Miner Outflow Multiple, which shows when BTC miner outflow is high with respect to its historical average, is far from previous tops and even below the 2019 local top.
Live chart | @glassnode
The Miner Outflow Multiple, which shows when BTC miner outflow is high with respect to its historical average, is far from previous tops and even below the 2019 local top.
Live chart | @glassnode
90% of all #Ethereum addresses (~47 million addresses) holding ETH are now in a state of profit.
This number has never been this high since January 2018.
Just in March of this year, only 3.2% (!) of all ETH addresses were in profit.
Live chart | @glassnode
This number has never been this high since January 2018.
Just in March of this year, only 3.2% (!) of all ETH addresses were in profit.
Live chart | @glassnode
$BTC has continued to grow throughout the last week of the year, reaching a new ATH of over $28k.
On-chain signals remain bullish, showing a significant supply side crisis for #Bitcoin.
Read more | #TheWeekOnChain
On-chain signals remain bullish, showing a significant supply side crisis for #Bitcoin.
Read more | #TheWeekOnChain
Glassnode Insights - On-Chain Market Intelligence
The Week On-Chain (Week 52, 2020)
BTC has continued to grow throughout the last week of the year, reaching a new ATH of over $28k. On-chain signals remain bullish, showing a significant supply side crisis for bitcoin.
#Bitcoin miners are currently earning $1,000,000 per hour.
This is an increase of 185% since the halving.
The last time miner revenue was this high, was in July 2019. Note that block rewards were twice as high than today.
Live chart | @glassnode
This is an increase of 185% since the halving.
The last time miner revenue was this high, was in July 2019. Note that block rewards were twice as high than today.
Live chart | @glassnode
This week, total liquidity on Uniswap crossed $2 billion USD for the first time after $UNI farming ended in November.
Monitor Uniswap metrics here 👇
studio.glassnode.com/dashboards/eth-uniswap
#Ethereum
Live chart | @glassnode
Monitor Uniswap metrics here 👇
studio.glassnode.com/dashboards/eth-uniswap
#Ethereum
Live chart | @glassnode
ATH: December's hash rate (136 exahash / s) was the highest in #Bitcoin's history so far 📈
Live chart | @glassnode
Live chart | @glassnode
#Ethereum funding rates are at a record high, breaking an average of 0.2% across major exchanges.
#BitMEX is leading the pack with a funding rate above 0.4%
Live chart | @glassnode
#BitMEX is leading the pack with a funding rate above 0.4%
Live chart | @glassnode
$190,000,000 (in long positions) were liquidated on #Binance within 10 minutes.
Largest value to date.
#Bitcoin
Live chart | @glassnode
Largest value to date.
#Bitcoin
Live chart | @glassnode