Prior to The Merge, Ethereum used to have dozens upon dozens of mining pools dedicating hashrate toward the blockchain network. That has all changed and most of the miners transitioned or plan on transitioning to other Ethash compatible coins like ethereum classic, ERGO, and the new fork ETHW. Now Ethereum blocks are verified by validators…
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Bitcoin’s price had just topped $21,000 at the time of writing — meaning around 45% of BTC holders have an “on-paper loss,” according to Glassnode. The majority of Bitcoin has been “hodled” for at least three months in behavior bearing a striking resemblance to previous Bitcoin market bottoms, says blockchain analytics firm Glassnode. In a…
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While many indicators suggest that the market bottom may be close, time will be the ultimate determinant, according to a new report from Glassnode. Bitcoin wealth is being distributed from weak hands to strong hands due to ongoing capitulation from retail investors and miners, signaling that the bottom may be close. The latest ‘The Week…
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Roughly 49 days ago, the number of bitcoin held on exchange was around 2.503 million, according to statistics recorded by cryptoquant.com. Since then, $4.76 billion worth of bitcoin has been removed from centralized crypto exchanges, as there’s 2.275 million held on trading platforms today. Glassnode reported on July 5, that despite bitcoin’s “weak price-action through…
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Active addresses, entities, and transactions on the Bitcoin network are all moving sideways while the number of wallets holding at least some of the assets continues to reach new highs. So-called “market tourists” are fleeing from Bitcoin (BTC), leaving only long-term investors holding and transacting in the top cryptocurrency, according to blockchain analytics firm Glassnode.…
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The crypto economy has slipped under the $1 trillion mark to the $970 billion range, as a large number of digital currencies have lost more than half their USD worth since November 2021. Bitcoin is down 70% from the all-time high last year, and a new report from Glassnode Insights calls the current bear market…
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Bitcoin’s derivatives metrics reflect slight improvements since the $17,600 low, but whales and market makers continue to price higher risk of another breakdown. A mild sense of hope emerged among Bitcoin (BTC) investors after the June 18 drop to $17,600 becomes more distant and an early ascending pattern points toward $21,000 in the short-term. Bitcoin…
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Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are…
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Investors are urgently sending Bitcoin into exchanges in order to either de-risk their portfolio or to protect margin positions with more collateral according to Glassnode’s latest report. The number of transactions on the Bitcoin network has spiked over the past week, which blockchain analysis firm Glassnode suggests are ‘urgent’ transactions due to investors de-risking. A…
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BTC price continues to trade in a wide range, providing an opportunity for options traders to use the Iron Condor strategy. The last time Bitcoin (BTC) traded above $50,000 was Dec. 27, 2021. Since then, four months have passed, but traders seem somewhat optimistic that inflation has hit the necessary threshold to trigger cryptocurrency adoption.…
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