Blockchain Crypto Bitcoin

2021-08-03 09:55:30 #Bitcoin on-chain data demonstrates a pattern of accumulation is in play, similar in structure to early-mid 2018.

A key difference in 2021 is 10% more supply is held by long-term holders, so it starts from a higher base.

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2021-08-02 21:33:07 Interesting chart for August. Bulls are in control based on put/call ratio. Floor for august seems to be max pain point of 36k. If we smash 40k we approach 45k with rocket fuel and we will be pulled towards 50k. #BTC 

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2021-08-02 21:19:27 This current price level has the most on-chain volume since $3800 price level.

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2021-08-02 20:06:00 Weekly NFT trade volume surpasses $300 million for the first time.

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2021-08-02 15:57:42 Ethereum supply on exchanges at its lows (17%), Top Addresses holding Eth continues to grow (20%), and Marketcap rising to $302B. With the EIP-1559 underway this week (August 04, 2021), the burning mechanism will make Eth a deflationary token causing supply shortage. Price is ready to go higher so get ready for the Ethereum ride!

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2021-08-02 11:49:11 ETH Supply/Demand Structure is Bullish

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2021-08-02 10:16:27 The market is taking some profits on this rally though, realizing up to $2.4B in net realized profit on Tuesday. This isn’t alarming and is to be expected after we’ve sat at the bottom of a range for weeks. But just to do some further investigation, I find it prudent to look at the age of the coins being sold. If we see strong profit-taking older coins fading every bounce looking for exit liquidity that’s not ideal. So, here’s what can be found upon further investigation.

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2021-08-02 10:15:27 Miners continue the heavy accumulation that we’ve been tracking for almost 2 months now. After the drop in hash rate and a massive difficulty adjustment, the miners still on the network are very profitable. This is because the amount of hash competing for block rewards is much less.

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2021-08-02 06:46:06 Bitcoin has seen a resurgence in Active Entities over the past week, rising by 30% from 250k to 325k active entities per day.

This degree of activity was sustained in July 2020 when $BTC prices were around $11.3k in Q2-2020.

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2021-08-01 23:08:52 There is a familiar trend on the Ethereum network. The number of ETH on exchanges is noticeably decreasing, but there are more tokens inside DeFi platforms. Such is the choice of investors.

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