RT @glassnode: 1/ The number of contract calls on #Ethereum shows the rapid growth of #DeFi in 2020.
Contract calls initiated by Externally Owned Accounts (EOAs) has almost tripled since the beginning of the year – from less than 300k to currently over 850k per day.
Bitcoin HODL strength is increasing; accumulation addresses have exceeded the 2018 peak. Accumulation addresses are defined as those that have at least 2 incoming non-dust transfers and have never spent funds.
Quite a few strong arguments for bears in the short-term (repeated rejection of 9500~10,000, potential triple top, miners selling, etc.).
But, many fundamental factors are pointing at long-term strength.
Level of HODLing, growing Grayscale AUM, etc.
RT @n3ocortex: 10/ Despite a continuous and immense growth of the #Bitcoin network, the amount of $BTC transferred on-chain has stagnated since 2016.
This is a clear indication of Bitcoin's SoV narrative.
Investors are simply not willing to spend their bitcoins.
RT @glassnode: When are miners moving large amounts of #Bitcoin?
The Miner Outflow Multiple shows when the volume of $BTC flowing out of miner wallets is high compared to its historical average.
It is the ratio of miner outflow (in USD) and its 365 day MA.
Now live: https://t.co/HiVHCHasO6https://t.co/FNdrEAat1I
RT @glassnode: #Bitcoin has seen its largest prolonged withdrawal of funds from exchanges.
According to our data, over 310,000 $BTC have moved out of exchanges since Black Thursday.
Bitfinex: -126,845 BTC
Huobi: -95,496 BTC
BitMEX: -95,438 BTC
RT @glassnode: 81% of the current #Bitcoin supply is in a state of profit.
With so many investors in profitable positions, significant increases to $BTC's price in anticipation of the halving could trigger some to realize gains in the short term.
Ethereum is transitioning to PoS after ~5 years of PoW. In its ~5 years of PoW, the network has achieved broad token distribution. Today, there’s 116,639 addresses with >32 ETH (the # of ETH required to run a validator) https://t.co/pAuHJdfD7W
RT @glassnode: 1/ Weekly on–chain market observations:
The bottom is close – and once it happens, the reversal will be strong.
MVRV is consolidating towards 1, which historically has indicated the bottom of #Bitcoin market cycles. Patience is key.
#33kByJuly3018Moku //not_giving_away_ETH\\ - @CarpeNoctom9 months ago
RT @glassnode: 3/ SSR quantifies stablecoin buying power over #bitcoin.
Currently, SSR is indicating high buying power. This is good in a bottoming market.
The more capital waiting on the sideline, the stronger the reversal once investor sentiment turns bullish again.