#Ethereum miners earned $3.5M (!) in a single hour – the highest hourly revenue to date.

Live chart | @glassnode

$WBTC trading volume on @Uniswap hit a new ATH.

More than $46 million were traded on the exchange within one hour.

Live chart | @glassnode

$BTC is sitting above $43k after climbing consistently over the past week, reaching a new ATH of $44,127 today.

On-chain metrics continue to signal favorable conditions as the #Bitcoin supply remains restricted.

Read more | #TheWeekOnChain

While $ETH is hovering at all-time highs, CME's Ether Futures saw a total of $34.1 million in trading volume on its first day.

Open interest of the CME ETH futures product is currently at $20M.

#Ethereum

Live chart | @glassnode

According to Dormancy Flow (entity-adjusted), we haven't even crossed the bear/bull threshold yet.

#Bitcoin

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#BTC miners just made over $4 million in a single hour – the highest hourly miner revenue in Bitcoin's history so far.

Live chart | @glassnode

Since the Grayscale #Ethereum Trust reopened in February, at total of 195,000 ETH have flown into the trust.

53,000 #ETH were added yesterday alone.

The current AUM of the ETHE Trust is $5.5B – more than double since the beginning of the year.

Live chart | @glassnode

Previous #Bitcoin bull markets are characterized by fingerprints of increased miner outflows of $BTC that had been acquired throughout prior years.

Even though we're seeing slightly higher outflows of older BTC, this same pattern has not emerged in the current bull market.

@glassnode

ATH: There are now more 94,000 #Bitcoin addresses holding at least $1 million worth of $BTC.

The steep increase in mid December marks the point when BTC crossed $20,000 – making all early miner addresses (50 BTC rewards) millionaire addresses.

Live chart | @glassnode

Record day: Trading volume on CME crossed the $5 billion mark for the first time.

#Bitcoin

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Institutional demand: One week after #Ethereum futures launched on CME, daily trading volume reached a total of $75.8M yesterday – almost doubling Friday's volume of $40M.

Meanwhile, open interest has increased to $62 million.

Live chart | @glassnode

Open interest on #Bitcoin futures contracts across major exchanges is at $17.5 billion.

Live chart | @glassnode

#Bitcoin MVRV-Z crosses a value of 7 into red territory for the first time since Dec 2017.

While this indicator suggests we could be in the advanced phase of the bull market, $BTC can still significantly grow from there.

In 2017, BTC made another ~2x.

Live chart | @glassnode

While $BTC crosses above $57k, we are not seeing a significant increase in funding rates yet.

The average funding rate for perpetual swaps across major exchanges is currently around 0.05%.

#Bitcoin

Live chart | @glassnode

Just a few days after the world's first #Bitcoin ETF started trading, its holdings are at 8,288 BTC – 2,251 were added yesterday alone.

The ETF's AUM has crossed half a billion USD, currently sitting at $564M.

Live chart | @glassnode

The #Bitcoin futures market saw a new record volume yesterday – more than $180B were traded across major exchanges.

Live chart | @glassnode

#Bitcoin funding rates are trending further down and have reached levels not seen since almost a month.

Live chart | @glassnode

Yesterday another 417 BTC were added to the Canadian #Bitcoin ETF – it now holds more than 10,000 BTC.

Live chart | @glassnode

The daily #Bitcoin Spent Output Profit Ratio (SOPR) has seen a full reset, and turned negative for the first time in five months – investors were on average moving BTC at a slight loss, indicating profit-taking has abated.

Live chart | @glassnode

#Bitcoin is in the midst of the second significant correction this bull cycle.

In this Week On-chain, we explore how both market and on-chain indicators are cooling off and whether there is any merit to 'this time is different'

Read more | #TheWeekOnChain

$GBTC is trading at a -11.92% discount – record low. #Bitcoin

Live chart | @glassnode