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
Moving into the first week of 2021, $BTC continued to hit all-time highs as it shot past $30k and kept climbing.
But $ETH is the real winner of the past week, gaining over 37% in a single 24 hour period.
Read more | #TheWeekOnChain
But $ETH is the real winner of the past week, gaining over 37% in a single 24 hour period.
Read more | #TheWeekOnChain
Glassnode Insights - On-Chain Market Intelligence
The Week On-Chain (Week 1, 2021)
Moving into the first week of 2021, BTC continues to hit all-time highs as it shoots past $30k and continues to climb. But ETH is the real winner of the week, gaining over 37% in a single day.
#Bitcoin MVRV Z-Score has seen a sharp increase to values above 5.
It is now at the levels of the main bull market of 2017.
Note that in 2017, $BTC made another 10x over the course of 6 months.
Live chart | @glassnode
It is now at the levels of the main bull market of 2017.
Note that in 2017, $BTC made another 10x over the course of 6 months.
Live chart | @glassnode
#Bitcoin network activity on the rise: The number of hourly active addresses (24h MA) just broke a new ATH.
Live chart | @glassnode
Live chart | @glassnode
#Bitcoin realized profits at record highs.
Yesterday alone, the total net realized profit of all coins moved on-chain was $5.5 billion.
Note that these represent BTC on-chain movements (comparing price at UTXO creation/spent times), not trades.
Live chart | @glassnode
Yesterday alone, the total net realized profit of all coins moved on-chain was $5.5 billion.
Note that these represent BTC on-chain movements (comparing price at UTXO creation/spent times), not trades.
Live chart | @glassnode
While $BTC dipped in value today, on-chain fundamentals remain strong, pointing to a healthy network.
#Bitcoin mining difficulty and hash rate are at ATHs.
Live chart | @glassnode
#Bitcoin mining difficulty and hash rate are at ATHs.
Live chart | @glassnode
Last week, $BTC exceeded $40k for the first time ever - more than double its 2017 ATH.
However, amidst Monday's bloodbath, a correction and some sideways movement may be in order before further growth #Bitcoin is seen.
Read more | #TheWeekOnChain
However, amidst Monday's bloodbath, a correction and some sideways movement may be in order before further growth #Bitcoin is seen.
Read more | #TheWeekOnChain