Bitcoin Back Under $111,000 As Key Holders Shed 17,500 BTC
On-chain data shows key investors on the Bitcoin network have collectively participated in some selling recently, a potential reason behind the asset’s decline. Bitcoin Sharks & Whales Have Done Some Net Distribution According to data from on-chain analytics firm Santiment, Bitcoin’s key investor tier is starting to show signs of slight profit-taking. The indicator of interest here is the “Supply Distribution,” which measures the total amount of the supply that investors belonging to a particular wallet segment are currently holding. Related Reading: Newbie Bitcoin....
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On-chain data shows the USDC exchange reserves sharply rose recently, something that could help push Bitcoin back up after the latest drop. USDC Exchange Reserve Observes Sharp Rise In Recent Days As pointed out by an analyst in a CryptoQuant post, the large amount of USD Coin that flowed into exchanges recently could be deployed to act as fuel for Bitcoin. The “exchange reserve” is an indicator that measures the total amount of USDC currently sitting in wallets of all centralized exchanges. Since stablecoins are tied to fiat (which in the case of USDC is USD), their value is....
A great deal of digital currencies are down in value during the last 30 days and the worst performing crypto out of the top ten coins with the largest market valuations was solana, losing 19.12% against the U.S. dollar. Bitcoin was the second biggest loser in the top ten, as the leading crypto asset shed 12.71% in USD value this month. Despite Mid-August Pump, Crypto Economy Shrank by $102 Billion Last Month Crypto assets saw a decent rise on August 14, 2022, as bitcoin (BTC) jumped over the $25K zone and ethereum (ETH) surpassed $2K per unit. Despite the jump in value, BTC shed 12.71% in....
Cardano (ADA) had since lost its momentum and has been back on another downtrend once more. This time around, the downtrend quickly sent the cryptocurrency back towards the $1 territory. This has had some dire implications for Cardano investors. The majority of these investors have now seen their portfolios descent into the red territory causing them to be taking massive losses at the current prices. Cardano Holders In The Red Much like the majority of the market, Cardano has seen its value decline in recent days. This has been a result of the slowing market momentum which has been....
On-chain data shows Ethereum has just 66% of its holders in profit despite the 21% rally the cryptocurrency has seen over the past week. Ethereum Holders In Profit Still At Relatively Low Level According to data from the market intelligence platform IntoTheBlock, the recent downturn in Ethereum has significantly affected the profitability ratio of holders on the network. Related Reading: Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000 In the drawdown, the ETH price had slipped from the $3,400 high near the end of July to the $2,100 level about a week ago. Since then,....