Santiment
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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
🤑 $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.
🤖 #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 : Solana is on the brink of crossing $150 for the first time since January 16th, 2022. Crowd sentiment is leaning slightly bullish toward №5 market cap $SOL , but not to the extent where #FOMO could halt a rally. Doubt historically fuels prices higher.
📊 Santiment reveals that the top 10 ETH addresses now hold a whopping 34.6% of all circulating ETH. Over the past 5 years, these addresses amassed 27.86M ETH, now valued at around $51.6B. Their share has surged from 11.2% five years ago. Currently, ETH's price stands at $1,852.02, a slight dip of 0.30%, as per CoinMarketCap. 📉🧮 #Ethereum #Santiment #CryptoAnalysis.
📊 $LTC #Santiment : There is high volume on the Litecoin network. More importantly, the average investment in LTC is getting smaller, indicating that whales put more coins back into circulation.
😯 #Santiment : The following assets sit atop the top trending list of crypto assets that are driving market discussions and sentiment:
#Wormholecoin : Trending due to the Wormhole Token Generation Event (TGE) and a massive airdrop of over 670 million tokens scheduled for today.
$ENA Ethena Labs: Trending due to the surge in price and marketcap of Ethena Labs' governance token
$WAVES Protocol: trending due to a proposal to invest #XTN treasury funds into the Waves Index (WIND) pool, with the protocol buying tokens using WAVES from Neutrino reserves.
#Wormholecoin : Trending due to the Wormhole Token Generation Event (TGE) and a massive airdrop of over 670 million tokens scheduled for today.
$ENA Ethena Labs: Trending due to the surge in price and marketcap of Ethena Labs' governance token
$WAVES Protocol: trending due to a proposal to invest #XTN treasury funds into the Waves Index (WIND) pool, with the protocol buying tokens using WAVES from Neutrino reserves.
📊 $BTC #Santiment : The volume of transactions is growing, and the number of wallets with >0 BTC continues to fall.
🎢 #Santiment : Bitcoin has just witnessed its biggest surge in dormant $BTC tokens changing hands in more than two years, signaling a potential increase in price volatility ahead.
**Just In: 🔔**
Santiment highlights that while Bitcoin remains relatively stable, various altcoins, including FET, LRC, REN, and TVK, are displaying distinct movements. It's crucial to monitor the increase in exchange holdings of these tokens, as such increases typically indicate heightened price volatility. Exchange holding ratios for these tokens are as follows: FET (18.6%), LRC (27.8%), REN (38.7%), and TVK (67.7%).
#Santiment #Bitcoin #Altcoins #CryptoMarket #ExchangeHoldings
Santiment highlights that while Bitcoin remains relatively stable, various altcoins, including FET, LRC, REN, and TVK, are displaying distinct movements. It's crucial to monitor the increase in exchange holdings of these tokens, as such increases typically indicate heightened price volatility. Exchange holding ratios for these tokens are as follows: FET (18.6%), LRC (27.8%), REN (38.7%), and TVK (67.7%).
#Santiment #Bitcoin #Altcoins #CryptoMarket #ExchangeHoldings
📈 #Santiment : Ethereum has returned to a $2,345 value for the first time since its fall began on January 22nd. The network is encouragingly rising in active addresses and network growth. Increased utility is a primary pillar to justify an increasing $ETH market cap
**Just In: 🔔 Santiment Reports Surge in Exchange-Held USDT Supply, Up 7.1% in Four Months**
#Santiment #USDT #CryptocurrencyAnalysis #ExchangeHoldings #CryptoTrends
#Santiment #USDT #CryptocurrencyAnalysis #ExchangeHoldings #CryptoTrends
📈 $BTC #Santiment : Crypto markets have seen a boost today, as bitcoin has jumped back to $63.8K with just over 36 hours until its halving event. The crowd has maintained a consistently bearish sentiment toward top caps, which strengthens the argument for more rising.
Developer activity is a key crypto investing metric that investors have to evaluate before jumping into an unpredictable cryptocurrency market. Investors can study developer activity on blockchain data platforms like Flipside and Santiment. They can also receive direct updates from leading blockchain developers on social platforms like X and Discord.
Remember, cryptocurrencies are highly-risk assets. Always do your own research before investing. The information in this guide does not constitute investment advice and is meant for informational purposes only.
Developer activity refers to work being done behind the scenes to upgrade blockchain systems, fix issues, and add new features and smart contracts to a cryptocurrency network. The open-source nature of cryptocurrency projects allows us to measure developer activity in near real-time by monitoring contributor activity on a developer platform called GitHub and by tracking smart contract deployment on-chain.
#Write2Earn #Github #Santiment #Flipside
Remember, cryptocurrencies are highly-risk assets. Always do your own research before investing. The information in this guide does not constitute investment advice and is meant for informational purposes only.
Developer activity refers to work being done behind the scenes to upgrade blockchain systems, fix issues, and add new features and smart contracts to a cryptocurrency network. The open-source nature of cryptocurrency projects allows us to measure developer activity in near real-time by monitoring contributor activity on a developer platform called GitHub and by tracking smart contract deployment on-chain.
#Write2Earn #Github #Santiment #Flipside
📊 #Santiment : With the approval of Bitcoin ETF's yesterday, we may continue to see a slight decline in active wallets on Bitcoin's blockchain. Though this likely won't impact price, a portion of traders may vacate their existing $BTC wallets in favor of #ETF exposure to crypto instead. Many onchain metrics are expected to take new shape, and we are truly in a new era!
📊 #Santiment : Volatility is extremely high in crypto, with $BTC reaching as high as $72.7K yesterday and dipping to $68.9K moments ago.
30 minutes before this drop, we saw a major #FOMO signal, as reflected by calls related to 'buying' & other 'bullish' keywords.
30 minutes before this drop, we saw a major #FOMO signal, as reflected by calls related to 'buying' & other 'bullish' keywords.
📊 #Santiment notes a decline in $BTC trading volume and higher realized profits, with the largest holders retaining their holdings as opposed to small holders.
