IntoTheBlock
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📈🤔 $ADA #IntoTheBlock : Cardano's NVT ratio has surged to its highest level since June, indicating a decrease in on-chain activity relative to price growth.
This classic overvaluation signal is notable given ADA's recent underperformance, suggesting the potential for further downside.
Historically, elevated NVT ratios often precede price pullbacks. Without increased on-chain engagement, Cardano's price might struggle to maintain momentum.
This classic overvaluation signal is notable given ADA's recent underperformance, suggesting the potential for further downside.
Historically, elevated NVT ratios often precede price pullbacks. Without increased on-chain engagement, Cardano's price might struggle to maintain momentum.
📊🤔 $BTC #IntoTheBlock : The increase in new Bitcoin addresses signals a healthy bull market. The 350K threshold separates bulls from bears. When new addresses drop below this, Bitcoin typically corrects or enters a bear market. Exceeding 350K indicates bullish strength.
Recent drops in new addresses (below 250K) led to significant price corrections:
▪️ 2018: From $19K to $6K
▪️ 2021: From $64K to $30K
▪️ 2024: From $74K to $49K
Despite a rise in addresses since June 2024, peaking at 349K, we've pulled back to 294K. For bulls to regain strength, new addresses must rise above 350K.
Recent drops in new addresses (below 250K) led to significant price corrections:
▪️ 2018: From $19K to $6K
▪️ 2021: From $64K to $30K
▪️ 2024: From $74K to $49K
Despite a rise in addresses since June 2024, peaking at 349K, we've pulled back to 294K. For bulls to regain strength, new addresses must rise above 350K.
USDT and USDC are used more often than other cryptocurrencies
The graph presented by #IntoTheBlock platform shows the dominant transaction activity for various cryptocurrencies such as USDT, USDC, #BTC☀ , ETH and others. As of October 22, 2024, USDT (Tether) and $USDC
showed the largest share in transaction volumes with figures of $29 billion and $28 billion respectively, highlighting their key role in the cryptocurrency ecosystem as major #Stablecoins .
According to the chart, the digital coin Bitcoin ($BTC
) ranked 3rd with transaction volumes at $17 billion, which also indicates stable popularity, but the share is still lower compared to the leaders. It is interesting to note that Ethereum also showed active growth, but its dominance is gradually decreasing, which is due to the increased use of stablecoins and other cryptocurrencies such as $TON
and WETH, which also appear on the chart.
The dominance of USDT and #USDC can be attributed to their steady use in various decentralized applications (DeFi) and trading operations. This makes these assets preferred for fast transfers and liquidity. Stablecoins provide users with an opportunity to avoid the volatility typical of cryptocurrencies.
That said, the chart also shows fluctuations in the share of other cryptoassets, which rank lower but continue to show dynamic changes in transaction volumes. These digital currencies are often focused on narrow market niches or used in specialized projects, which is reflected in their comparatively lower volume.
The graph indicates increasing competition between different cryptoassets, especially in the area of stablecoins and tokens for decentralized applications. This trend is likely to continue with the further development of Web3 and the increasing number of users involved in decentralized finance and crypto trading.
#ScrollOnBinance
showed the largest share in transaction volumes with figures of $29 billion and $28 billion respectively, highlighting their key role in the cryptocurrency ecosystem as major #Stablecoins .
According to the chart, the digital coin Bitcoin ($BTC
) ranked 3rd with transaction volumes at $17 billion, which also indicates stable popularity, but the share is still lower compared to the leaders. It is interesting to note that Ethereum also showed active growth, but its dominance is gradually decreasing, which is due to the increased use of stablecoins and other cryptocurrencies such as $TON
and WETH, which also appear on the chart.
The dominance of USDT and #USDC can be attributed to their steady use in various decentralized applications (DeFi) and trading operations. This makes these assets preferred for fast transfers and liquidity. Stablecoins provide users with an opportunity to avoid the volatility typical of cryptocurrencies.
That said, the chart also shows fluctuations in the share of other cryptoassets, which rank lower but continue to show dynamic changes in transaction volumes. These digital currencies are often focused on narrow market niches or used in specialized projects, which is reflected in their comparatively lower volume.
The graph indicates increasing competition between different cryptoassets, especially in the area of stablecoins and tokens for decentralized applications. This trend is likely to continue with the further development of Web3 and the increasing number of users involved in decentralized finance and crypto trading.
#ScrollOnBinance
📈 #IntoTheBlock : #Worldcoin leads on the Optimism Network with an average weekly transaction volume of over 1 billion & more than 2.5M holders.
📊 $BTC #IntoTheBlock : Following every halving, miner revenue in USD plummets, but only for a short period.
Typically, The BTC price starts increasing shortly following the halving, leading to new highs in miner revenue within a year.
Typically, The BTC price starts increasing shortly following the halving, leading to new highs in miner revenue within a year.
Bitcoin And Ethereum Fees Increased Amid Market Rally, With Ethereum Hitting Year-High.
The cryptocurrency market is experiencing significant activity with both Bitcoin and Ethereum reaching yearly highs, resulting in a significant increase in transaction fees. A recent market rally sent Bitcoin reaching its annual peak price of $45,000 on December 5, before settling above $43,000. Following this rise, #IntoTheBlock reported on December 8 that Bitcoin's on-chain activity increased, leading to a more than 60% increase in transaction fees.
#Ethereum also showed significant growth, hitting a yearly high of $2,390 on Friday. This latest milestone comes with daily gains exceeding Bitcoin's incremental rise. Despite Ethereum's success in price and increase in whale dominance – these large holders now own 35% of the total supply – there has been no corresponding increase in new user acquisition for the network.
The increase in Bitcoin's transaction fees has outpaced that of Ethereum, which saw a fee increase of nearly 50%. This fee inflation typically indicates an increasing demand for transactions on each blockchain and often reflects increased investor interest and market activity.
The market is closely monitoring these developments as both cryptocurrencies are performing strongly. The increase in fees underscores the rising costs associated with increased demand for blockchain space, especially during market rallies. Investors and users are now navigating an environment where increased activity can lead to higher costs for transacting on these networks.
$BTC $ETH
The cryptocurrency market is experiencing significant activity with both Bitcoin and Ethereum reaching yearly highs, resulting in a significant increase in transaction fees. A recent market rally sent Bitcoin reaching its annual peak price of $45,000 on December 5, before settling above $43,000. Following this rise, #IntoTheBlock reported on December 8 that Bitcoin's on-chain activity increased, leading to a more than 60% increase in transaction fees.
#Ethereum also showed significant growth, hitting a yearly high of $2,390 on Friday. This latest milestone comes with daily gains exceeding Bitcoin's incremental rise. Despite Ethereum's success in price and increase in whale dominance – these large holders now own 35% of the total supply – there has been no corresponding increase in new user acquisition for the network.
The increase in Bitcoin's transaction fees has outpaced that of Ethereum, which saw a fee increase of nearly 50%. This fee inflation typically indicates an increasing demand for transactions on each blockchain and often reflects increased investor interest and market activity.
The market is closely monitoring these developments as both cryptocurrencies are performing strongly. The increase in fees underscores the rising costs associated with increased demand for blockchain space, especially during market rallies. Investors and users are now navigating an environment where increased activity can lead to higher costs for transacting on these networks.
$BTC $ETH
📈 $BTC #IntoTheBlock : On March 23rd, Large Bitcoin holders added nearly 80,000 BTC to their holdings as the price hovered around $64K. This strong accumulation appears to be a key driver behind Bitcoin's move back to the $70K range.
📈 $TRX #IntoTheBlock : The number of daily active #TRON addresses has been growing for the past month, increasing by 55% from ~1.3 million to over 2 million!
🤔 #IntoTheBlock : $BTC halving is coming up in April, and this cycle looks very different from previous ones!
Historical patterns show an upswing in price post-halving events, yet this cycle the bitcoin price has rallied earlier than expected and has already broken previous all-time highs. This could indicate that investors are frontrunning the 'halving effect' well in advance.
Historical patterns show an upswing in price post-halving events, yet this cycle the bitcoin price has rallied earlier than expected and has already broken previous all-time highs. This could indicate that investors are frontrunning the 'halving effect' well in advance.
📈 #IntoTheBlock : The amount of $ETH transferred on Mainnet reached its highest since May 2022 this week
🎢 $ETH #IntoTheBlock : Last quarter, $4 billion worth of ETH was withdrawn from exchanges, indicating significant accumulation by holders.
🐳 $ADA #IntoTheBlock : Cardano whales are busy, with an average large transaction volume of $13.84B a day in the last 7 days.
For comparison, this is a third of Bitcoin's current volume, 5x as much as Litecoin's volume and over 16x that of Dogecoin.
For comparison, this is a third of Bitcoin's current volume, 5x as much as Litecoin's volume and over 16x that of Dogecoin.
📈 #IntoTheBlock : Optimism's $OP token has been outperforming with a 48% increase from its lows on April 13.
Thanks to this increase, it has once again surpassed $ARB in market cap.
Thanks to this increase, it has once again surpassed $ARB in market cap.
📊 $ETH fees hit a 6-month low, reflecting a shift in activity to over 50 live Layer 2 networks.
This aligns with Vitalik Buterin's 2020 roadmap aiming to enhance scalability by offloading transactions from the Mainnet, according to #IntoTheBlock .
An increasing number of transactions are now being settled on Ethereum Layer 2s. Last month, the three largest L2s hit a record 82% transaction share of all Ethereum transactions.
This aligns with Vitalik Buterin's 2020 roadmap aiming to enhance scalability by offloading transactions from the Mainnet, according to #IntoTheBlock .
An increasing number of transactions are now being settled on Ethereum Layer 2s. Last month, the three largest L2s hit a record 82% transaction share of all Ethereum transactions.
📊 #IntoTheBlock : Despite $PEPE 's impressive performance this month, just 170k addresses currently hold PEPE. This is still significantly lower than $SHIB 's 1.3M and $DOGE 's 6.3M holders.
🤔 $BTC $ETH #IntoTheBlock : While long-term Bitcoin holders have started selling their holdings, Ethereum holders are shaking things up. New yield opportunities in the ETH ecosystem and anticipation of an Ethereum #ETF could be driving this divergence.
🤔 $ETH #IntoTheBlock : This chart presents the USD net flows from Ethereum Foundation wallets.
Historically, during each bull market, the Foundation has strategically sold substantial amounts, often aligning these sales almost perfectly with market peaks.
In the current cycle, the #EthereumFoundation has yet to execute any significant sales.
Historically, during each bull market, the Foundation has strategically sold substantial amounts, often aligning these sales almost perfectly with market peaks.
In the current cycle, the #EthereumFoundation has yet to execute any significant sales.
📈🐳 $BTC #IntoTheBlock : Despite market #FUD , the net inflow to Bitcoin's largest wallets reached its highest level since late May.
Holders controlling at least 0.1% of the total #Bitcoin supply added 7,130 BTC, valued at approximately $436 million, to their wallets yesterday alone.
Holders controlling at least 0.1% of the total #Bitcoin supply added 7,130 BTC, valued at approximately $436 million, to their wallets yesterday alone.
👀 $BTC #IntoTheBlock : Currently, there are 1 million addresses in the world that have at least 1 full on their balance sheet.
Hodl vs. shake it up! $BTC vs. $ETH on #IntoTheBlock
Long-term Bitcoiners selling, while Ethereum holders are getting active! New ETH yields & potential #ETF fueling the fire.
What's your crypto strategy?
#btc #eth #bitcoin
Long-term Bitcoiners selling, while Ethereum holders are getting active! New ETH yields & potential #ETF fueling the fire.
What's your crypto strategy?
#btc #eth #bitcoin
