#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 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

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

$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

#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 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

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ATH: December's hash rate (136 exahash / s) was the highest in #Bitcoin's history so far 📈

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#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

$190,000,000 (in long positions) were liquidated on #Binance within 10 minutes.

Largest value to date.

#Bitcoin

Live chart | @glassnode

#Ethereum fees in the past hour (24h MA): $898,000 USD – All Time High.

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

#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

#Bitcoin network activity on the rise: The number of hourly active addresses (24h MA) just broke a new ATH.

Live chart | @glassnode

ATH: $BTC Realized Price breaks $10,000 USD for the first time!

#Bitcoin

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#Bitcoin Dormancy Flow has reached the bull/bear threshold.

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

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

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

The recent $BTC dip caused a clear bounce off the bear/bull threshold on the #Bitcoin dormancy flow chart.

Live chart | @glassnode

Yesterday, a total of $410M (!) in $BTC long positions in futures contracts were liquidated on Binance – marking the largest daily value to date.

#Bitcoin

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Cumulative #Bitcoin miner revenue (Thermocap) crossed $20 billion USD.

Thermocap serves as a lower bound for the true capital inflow into Bitcoin.

It has doubled in the past 2 years.

Live chart | @glassnode