Santiment
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📊 $BTC #Santiment : Since February 2023, the Bitcoin MVRV Ratio has dipped below -8.40% on four occasions, triggering BTC price jumps of 63%, 100%, 92%, and 28%.
Currently, with #Bitcoin priced under $60,000 and the #MVRV Ratio at -8.96%, this might be an ideal time to buy the dip.
Currently, with #Bitcoin priced under $60,000 and the #MVRV Ratio at -8.96%, this might be an ideal time to buy the dip.
📈 $LINK #Santiment : In the last 24 hours, 18.77 million LINK, valued at approximately $256.20 million, were sent to cryptocurrency exchanges
Santiment Analyst Firm Cautions Against Selling Bitcoin To Major Bookmakers
Bitcoin has been experiencing a surge in prices, with the cryptocurrency’s value edging closer to the $30,000 mark. According to a report by Santiment, this has resulted in a polarizing time for the market, with profit taking and fears of a top becoming prevalent.
The report highlights that the five largest transactions of 2023 have all happened in March, with the latest being a massive 20,000 BTC move that briefly went to address 3JZq4atUahhuA9rLhXLMhhTo133J9rF97j before being moved to multiple others.
@azcoinnews
The influx of coins moving back onto exchanges between March 13th to 21st is also notable, as Bitcoin’s price surged up to 28k during this period. However, since then, supply has again been moving off of exchanges.
The report also notes that the total number of active sharks and whales (in yellow) and more dormant whales/exchange addresses (in red) are still rising in March, but the yellow line is rising at a slower pace compared to when prices were bottoming out in November and December.
The percentage held by this same shark/whale yellow line looks concerning when taking a look at the percentage of Bitcoin supply held. After an accumulation pattern up until late January, profit taking has gradually taken effect.
The caution flags raised by the large transactions going on in March and the slide down of the 10-10k BTC address tier (by percentage) and tapering off (by total addresses) suggest that there are legitimate concerns about Bitcoin’s ability to surge to $35,000 and beyond.
The cryptocurrency market has always been volatile, and the recent fluctuations in Bitcoin’s price are no exception. The report by Santiment provides valuable insights into the current state of the market and raises important questions about the future of Bitcoin. It remains to be seen whether the caution flags will result in a slowdown of Bitcoin’s upward trajectory or if the cryptocurrency will continue to surge ahead.
#bitcoin #BTC #Santiment #BTC #azcoinnews
This article was republished from azcoinnews.com
The report highlights that the five largest transactions of 2023 have all happened in March, with the latest being a massive 20,000 BTC move that briefly went to address 3JZq4atUahhuA9rLhXLMhhTo133J9rF97j before being moved to multiple others.
@azcoinnews
The influx of coins moving back onto exchanges between March 13th to 21st is also notable, as Bitcoin’s price surged up to 28k during this period. However, since then, supply has again been moving off of exchanges.
The report also notes that the total number of active sharks and whales (in yellow) and more dormant whales/exchange addresses (in red) are still rising in March, but the yellow line is rising at a slower pace compared to when prices were bottoming out in November and December.
The percentage held by this same shark/whale yellow line looks concerning when taking a look at the percentage of Bitcoin supply held. After an accumulation pattern up until late January, profit taking has gradually taken effect.
The caution flags raised by the large transactions going on in March and the slide down of the 10-10k BTC address tier (by percentage) and tapering off (by total addresses) suggest that there are legitimate concerns about Bitcoin’s ability to surge to $35,000 and beyond.
The cryptocurrency market has always been volatile, and the recent fluctuations in Bitcoin’s price are no exception. The report by Santiment provides valuable insights into the current state of the market and raises important questions about the future of Bitcoin. It remains to be seen whether the caution flags will result in a slowdown of Bitcoin’s upward trajectory or if the cryptocurrency will continue to surge ahead.
#bitcoin #BTC #Santiment #BTC #azcoinnews
This article was republished from azcoinnews.com
USDC Transaction Volume Reaches 5-Month Low, Market Participants Hold Onto Stablecoin
In the world of cryptocurrency, the last few days have been quite eventful. According to data by Glassnode, the USDC transaction volume has just reached a 5-month low of $323,963,029.87. This is a significant decline from the previous 5-month low of $326,393,674.61 that was observed on 31 March 2023.
@azcoinnews
The USDC is a stablecoin pegged to the US dollar, which means that its value remains stable and predictable. It is used by traders and investors to transfer funds between exchanges, as well as to hold value in times of market volatility. The recent drop in transaction volume could be a result of market participants holding onto their USDC, and waiting for better investment opportunities.
On the other hand, the percentage supply of USDC in smart contracts has just reached a 10-month high of 42.272%. This is a significant increase from the previous 10-month high of 42.222%, which was observed on 14 September 2022.
@azcoinnews
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This increase in the percentage supply of USDC in smart contracts indicates that more market participants are using the stablecoin to invest in decentralized applications.
In addition, Santiment, a market intelligence platform, has reported that the combined buying power for USDT, USDC, BUSD, DAI, and USDP is $126.3 billion. The decline in buying power has tapered off this week, which could signal a major increased probability of Bitcoin rising.
@azcoinnews
The first quarter of 2023 has been a good one for the recovering cryptocurrency markets, and a rise in buying power could further strengthen the market. However, it is important to remember that the cryptocurrency market is highly volatile and subject to fluctuations, so investors should exercise caution and do their due diligence before making any investments.
The recent developments in the cryptocurrency market have been noteworthy, with the USDC transaction volume reaching a 5-month low, the percentage supply of USDC in smart contracts reaching a 10-month high, and the combined buying power for stablecoins remaining strong.
#Santiment #Glassnode #azcoinnews #Stablecoins #USDC
This article was republished from azcoinnews.com
@azcoinnews
The USDC is a stablecoin pegged to the US dollar, which means that its value remains stable and predictable. It is used by traders and investors to transfer funds between exchanges, as well as to hold value in times of market volatility. The recent drop in transaction volume could be a result of market participants holding onto their USDC, and waiting for better investment opportunities.
On the other hand, the percentage supply of USDC in smart contracts has just reached a 10-month high of 42.272%. This is a significant increase from the previous 10-month high of 42.222%, which was observed on 14 September 2022.
@azcoinnews
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This increase in the percentage supply of USDC in smart contracts indicates that more market participants are using the stablecoin to invest in decentralized applications.
In addition, Santiment, a market intelligence platform, has reported that the combined buying power for USDT, USDC, BUSD, DAI, and USDP is $126.3 billion. The decline in buying power has tapered off this week, which could signal a major increased probability of Bitcoin rising.
@azcoinnews
The first quarter of 2023 has been a good one for the recovering cryptocurrency markets, and a rise in buying power could further strengthen the market. However, it is important to remember that the cryptocurrency market is highly volatile and subject to fluctuations, so investors should exercise caution and do their due diligence before making any investments.
The recent developments in the cryptocurrency market have been noteworthy, with the USDC transaction volume reaching a 5-month low, the percentage supply of USDC in smart contracts reaching a 10-month high, and the combined buying power for stablecoins remaining strong.
#Santiment #Glassnode #azcoinnews #Stablecoins #USDC
This article was republished from azcoinnews.com
📊 #Santiment : Following an attempted (but failed) #Bitfinex hack using a “Partial Payments Exploit”, there is high negative sentiment toward $XRP . The altcoin's price performance has been middling in 2024. Along with a low #RSI , there is upside while #FUD is high.
A digital currency explodes in price.. What are the reasons?
_The price of the #Blur.token (BLUR) gained upward momentum for the first time in over four months as the market saw a significant rise in non-fungible token (NFT) sales. Blur is up 30% in the last 24 hours and is trading at $0.39 at the time of writing. Reaching its highest level in four months. The market value of the asset is currently $414 million. She was last seen in late July. BLUR's 24-hour trading volume also rose by 400%, crossing the $460 million mark. #BLUR Price, Whale Activity, Social Trading Volume, and Open Interest – November 7 | Source: #Santiment according to data provided by market intelligence platform #Santiment . Whale transactions for at least $100,000 worth of BLUR token have risen by 248% over the past day.
#follow To see more news and details about digital currencies ✅💵⬇️🚀💯
_The price of the #Blur.token (BLUR) gained upward momentum for the first time in over four months as the market saw a significant rise in non-fungible token (NFT) sales. Blur is up 30% in the last 24 hours and is trading at $0.39 at the time of writing. Reaching its highest level in four months. The market value of the asset is currently $414 million. She was last seen in late July. BLUR's 24-hour trading volume also rose by 400%, crossing the $460 million mark. #BLUR Price, Whale Activity, Social Trading Volume, and Open Interest – November 7 | Source: #Santiment according to data provided by market intelligence platform #Santiment . Whale transactions for at least $100,000 worth of BLUR token have risen by 248% over the past day.
#follow To see more news and details about digital currencies ✅💵⬇️🚀💯
🤖 #Santiment : Singularity NET and its native token, $AGIX , are seeing sky-high levels of onchain activity today with its market cap well over doubling in the past week. The network, which facilitates the creation and sharing of #AI tools, has an all time high 93.6K non-0 coin wallets now, as its daily whale transactions over $1M in value, on-chain volume, and conversation rate have all skyrocketed.
📊 #Santiment : Ethereum's community has been uniting with Solana's to combat against the SEC security allegations. Meanwhile, the price of $ETH has retraced -18% since its top on March 11th.
Whale activity has been at the highest level of 2024 as the asset polarizes traders over the news. Keep an eye on the 30-day average returns of ETH wallets, which indicate a buy is justified. Also, its RSI has dropped to 28.5, the lowest we have seen for the #2 market cap coin since the price bottom in late January.
Whale activity has been at the highest level of 2024 as the asset polarizes traders over the news. Keep an eye on the 30-day average returns of ETH wallets, which indicate a buy is justified. Also, its RSI has dropped to 28.5, the lowest we have seen for the #2 market cap coin since the price bottom in late January.
🗣 #Santiment : $BOME and $SOL are the top two trending assets across X, Reddit, Telegram, and 4Chan due to outperforming the markets as of late.
The crowd continues to regard Solana and associated memecoins as viable alternatives to Ethereum-based projects.
The crowd continues to regard Solana and associated memecoins as viable alternatives to Ethereum-based projects.
📊 #Santiment : As the weekend has kicked off, sentiment toward top cap assets remain at extremely optimistic levels with spotlights on them following the #ETF approvals.
Traders are particularly bullish toward Ethereum after its market value climbed above $2,700 for the first time since May, 2022. While traders are discussing the possibility of $ETH or $XRP ETF approval possibilities, Cardano ($ADA ) is overlooked compared to its normal level of trader optimism.
Traders are particularly bullish toward Ethereum after its market value climbed above $2,700 for the first time since May, 2022. While traders are discussing the possibility of $ETH or $XRP ETF approval possibilities, Cardano ($ADA ) is overlooked compared to its normal level of trader optimism.
📈 #Santiment : Dogecoin whales have purchased 1.40 billion $DOGE over the past two weeks, worth around $280 million!
📊 Santiment, the cryptocurrency on-chain analysis platform, reveals that the proportion of ETH balances on exchanges has dropped to 8.07%, the lowest level since the creation of the ETH Genesis block. 📉📈 #Santiment #EthereumRally #CryptoData 📊
📉 #Santiment : AxieInfinity and BitcoinCash are among the very slim group of crypto assets that are seeing a higher ratio of shorts than longs this weekend. Traders appear to be confident of a market bounce upcoming, and $BCH & $AXS are two exceptions. Short liquidations could act as 'rocket fuel' and cause market value rises if they show minor signs of bouncing while there is this level of trader shorting at their current values.
🐳 $DOGE #Santiment : Dogecoin is up another +10% today, and +29% this week. The top memecoin by market cap (#8 market cap crypto asset overall) is being powered by major dormant whales moving DOGE back into circulation, and a lack of FOMO that would normally form tops.
🤑 $BTC #Santiment : bitcoin's market value has rebounded to $59.3K, and the percentage of the network's available supply in profit is at 84.4%. This BTC ratio is at its lowest level in 2 months. Lower levels generally justify more bullish conditions.
🤑 $ETH #Santiment : Unlike the previous time that Ethereum crossed above a $4K market value (October & November, 2021), the network is less than 1/6th as cheap per transaction today. With gas fees at a modest $9.35 in gas fees, on average, this can be partly attributed to the improved network fees after the Ethereum 2.0 transition.
Historically, fees staying lower and the network staying less congestion can continue to allow for more use cases and ETH adoption over time.
Historically, fees staying lower and the network staying less congestion can continue to allow for more use cases and ETH adoption over time.
