The number of unique entities appearing for the first time in the #Bitcoin network is surging.
This growth rate is the largest we have seen since late 2017.
Live chart | @glassnode
This growth rate is the largest we have seen since late 2017.
Live chart | @glassnode
#Ethereum's Aggregate Security Spend ("Thermocap") just reached $7 billion USD.
Thermocap is the total revenue generated by the network (block rewards paid to miners), and can be used as a measure of the true capital flow into Ethereum.
Live chart | @glassnode
Thermocap is the total revenue generated by the network (block rewards paid to miners), and can be used as a measure of the true capital flow into Ethereum.
Live chart | @glassnode
Control of #Bitcoin’s supply has been steadily shifting towards smaller entities.
The percent of supply owned by entities holding ≤ 10 $BTC grew from 5.1% to 13.8% in the past five years, while the percent held by entities with 100-100k BTC declined from 62,9% to 49,8%.
Live chart | @glassnode
The percent of supply owned by entities holding ≤ 10 $BTC grew from 5.1% to 13.8% in the past five years, while the percent held by entities with 100-100k BTC declined from 62,9% to 49,8%.
Live chart | @glassnode
The Market Cap to Thermocap Ratio indicates if an asset is trading at a premium with respect to the total revenue generated by the network (aggregate security spend).
#Bitcoin's current value is still at very low levels – around 5-10x away from previous tops.
Live chart | @glassnode
#Bitcoin's current value is still at very low levels – around 5-10x away from previous tops.
Live chart | @glassnode
Despite a drop in GNI, the compass remains safely in the bullish zone as BTC tests the $12k price point.
However, with #Bitcoin on–chain fundamentals slowing slightly, investors should be wary & monitor key metrics.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
However, with #Bitcoin on–chain fundamentals slowing slightly, investors should be wary & monitor key metrics.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
Over 17,500 ETH (USD$6.8 million) was spent on fees yesterday on #Ethereum.
As users compete for limited space in the #DeFi ecosystem, arbitrage bots have become unwelcome gas guzzlers, pushing gas prices to all time highs.
Read the full analysis | #Insights
As users compete for limited space in the #DeFi ecosystem, arbitrage bots have become unwelcome gas guzzlers, pushing gas prices to all time highs.
Read the full analysis | #Insights
95% of #Bitcoin UTXOs are currently in a state of profit.
Extended periods at this level and above are characteristic of bull runs as BTC moves towards new all-time highs.
Live chart | @glassnode
Extended periods at this level and above are characteristic of bull runs as BTC moves towards new all-time highs.
Live chart | @glassnode
The compass remains in the bullish quadrant, but #DeFi appears to be receiving more attention than #bitcoin at the moment.
However, with the $12k barrier passed, BTC may soon start to regain dominance in the market.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
However, with the $12k barrier passed, BTC may soon start to regain dominance in the market.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
#Bitcoin’s Net Unrealized Profit/Loss (NUPL) broke in to the "Belief" zone for the first time over a year.
Its current value is lower than the last time $BTC hit $12,000 – suggesting potential for more price upside from here.
Live chart | @glassnode
Its current value is lower than the last time $BTC hit $12,000 – suggesting potential for more price upside from here.
Live chart | @glassnode
The decline of #Bitcoin exchange balances signals reduced selling pressure.
Currently 2.6M BTC are being held on exchanges.
This is significantly lower than the last time $BTC hit a local top over a year ago (2.8M), and lower than before the sell-off in March (2.9M).
Live chart | @glassnode
Currently 2.6M BTC are being held on exchanges.
This is significantly lower than the last time $BTC hit a local top over a year ago (2.8M), and lower than before the sell-off in March (2.9M).
Live chart | @glassnode
Our data shows that a total of 1 billion $USDT (ERC20) was deposited to #Binance in the past two hours.
Note that #Tether has performed a chain swap from Tron to the ERC20 protocol, which effectively leaves the total #USDT supply unchanged.
Live chart | @glassnode
Note that #Tether has performed a chain swap from Tron to the ERC20 protocol, which effectively leaves the total #USDT supply unchanged.
Live chart | @glassnode
Despite a slight decrease in the Glassnode Network Index (GNI), #Bitcoin’s fundamentals remain strong – keeping the compass in the bullish quadrant for the 13th week in a row.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
Increased #Bitcoin investor HODLing behaviour:
The circulaing BTC supply that hasn't moved in at least 2 years is now at 44% (8 million $BTC) – a level we haven't seen in over three years.
In the past year this metric has increased by 10 percentage points.
Live chart | @glassnode
The circulaing BTC supply that hasn't moved in at least 2 years is now at 44% (8 million $BTC) – a level we haven't seen in over three years.
In the past year this metric has increased by 10 percentage points.
Live chart | @glassnode
There are currently over 500,000 #Bitcoin "accumulation addresses" holding a total of 2.6M $BTC (~14% of the circulating supply).
Accumulation addresses are defined as addresses that:
- have 2+ incoming txs
- never spent BTC
- were active in the past 7 years (accounting for lost coins)
- exchanges & miners are excluded
Live chart | @glassnode
Accumulation addresses are defined as addresses that:
- have 2+ incoming txs
- never spent BTC
- were active in the past 7 years (accounting for lost coins)
- exchanges & miners are excluded
Live chart | @glassnode
While the GNI retraced for the second week in a row, #Bitcoin fundamentals remain healthy and the compass continues to provide a bullish sentiment.
Meanwhile the amount of wrapped BTC on Ethereum increases to new highs.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
Meanwhile the amount of wrapped BTC on Ethereum increases to new highs.
Read about this week’s developments in the latest Week On-Chain.
Read more | #TheWeekOnChain
#Ethereum miners earned over $500,000 USD in transaction fees in the past hour.
That is a new record high for a single hour (anomalous transaction fees earlier this year excluded).
Live chart | @glassnode
That is a new record high for a single hour (anomalous transaction fees earlier this year excluded).
Live chart | @glassnode
#Ethereum transaction fees in perspective: Miners earned a total of $113M from fees in August.
In April this number was at only $3M – that's a 38x increase!
And a 1.8x increase from the previous ATH in Jan 2018.
In comparison: #Bitcoin miners earned $39M in August, almost three times less.
Live chart | @glassnode
In April this number was at only $3M – that's a 38x increase!
And a 1.8x increase from the previous ATH in Jan 2018.
In comparison: #Bitcoin miners earned $39M in August, almost three times less.
Live chart | @glassnode
Coin Days Destroyed (CDD) is an indicator for movements of large & old stashes of $BTC.
Currently, it is showing no signs of long-term investors cashing out.
In fact, CDD is less than half compared to last year when #Bitcoin was at the same price level.
Live chart | @glassnode
Currently, it is showing no signs of long-term investors cashing out.
In fact, CDD is less than half compared to last year when #Bitcoin was at the same price level.
Live chart | @glassnode