Glassnode

2021-05-21 19:00:02 This weeks correction has resulted in a substantial deleveraging of futures markets.

Over $7.5B in #Bitcoin open interest was cleared within a few hours, bringing total open interest back to levels last seen in early February.

Live chart | @glassnode Open / Comment

2021-05-21 10:14:24 Demand for the top stablecoins $USDT, $USDC and $DAI pushed prices noticeably above the $1 peg in the month before the Coinbase listing.

This may suggest there was distribution and a strong demand for exit liquidity to 'sell the news'.

Live Chart | @glassnode Open / Comment

2021-05-21 05:57:56 Stablecoin Supply Ratio hits an All-Time-Low of 8.54.

This means the #Bitcoin Market Cap is 8.54x larger than the global supply of stablecoins.

ATL SSR values indicates that the purchasing power of crypto-native dollars is at a relative ATH.

Live Chart | @glassnode Open / Comment

2021-05-20 19:00:05 #Bitcoin on-chain transaction fee dominance for deposits to exchanges reached a new ATH during yesterdays sell-off.

Over 18% of all on-chain transaction fees were associated with deposits, eclipsing the top of 14% set in 2017.

This highlights the urgency felt by coin holders as they reacted to market volatility.

Live Chart | @glassnode Open / Comment

2021-05-20 03:45:23 This #Bitcoin sell-off is historic in the magnitude of losses realised by short term holders.

STH-SOPR has only dipped this low on three occasions since 2015:
- Feb 2018 start of bear market
- Nov 2018 bear capitulation
- Mar 2020 COVID sell-off

Live Chart Open / Comment

2021-05-19 19:00:07 As crypto markets experience downside volatility, the demand for stablecoins increases.

A key feature of the burgeoning #DeFi ecosystem is the opportunity to deploy stablecoins into yield producing protocols.

Read our analysis on opportunities to generate yield on stablecoin collateral here Open / Comment

2021-05-17 19:00:07 As Elon Musk reverses his #Bitcoin sentiment, we observe new entrants panic selling and hodlers stepping in to buy the dip.

This is a historically significant correction that is testing $BTC hodler conviction.

Read more in The Week On-chain Open / Comment

2021-05-13 19:00:07 #Bitcoin supply held by Long Term Holders has returned to accumulation mode

Whilst it looks similar to the 2017 peak, HODLers today actually hold +8% more of the circulating supply in dormant wallets.

Dormant supply increases, even as price dips.

Live Chart | @glassnode Open / Comment

2021-05-13 13:04:16 #Bitcoin mining difficulty has increased by 21.5% today.

It is the largest positive difficulty adjustment in almost 7 years.

Live Chart | @glassnode Open / Comment

2021-05-12 19:00:03 #Ethereum DeFi has expanded at an incredible pace, absorbing over $100B in liquidity in under 12 months.

In this analysis, we assess the key on-chain metrics which track and quantify the explosive growth, and stickiness of DeFi.

Read our latest report on The State of DeFi

For more DeFi related analysis, insights and content, subscribe here Open / Comment