Technical analyst "Game of Trades" discovered six on-chain measurements for his 71,000 Twitter followers. Bitcoin's Realized Price (RP) is an estimate of what the market paid for all coins at their previous price.
Since Bitcoin has been trading above the psychological price of $20K, Glassnode has released its weekly on-chain report titled “Hammering Out The Bottom,” scrutinizing the stakes and the risks that may lay on the road ahead.
Data shows Ethereum whales' address holdings have reduced by more than 3 million ETHs over the last five weeks, indicating that whales have maintained redistribution of their holdings on the market since the Merge.
Since non-fungible tokens (NFTs) help build authentic intellectual property, this is one of the key drivers expected to push the sector to a $97.6 billion valuation by 2028, according to a report by Research and Markets.
Once Ethereum shifts to a PoS consensus mechanism, validators will replace miners in the confirmation of blocks because they will use the staked Ether. As a result, prompting a more cost-efficient and environmentally friendly approach.
Citigroup Inc. or Citi, an American multinational investment bank, disclosed that the merge would make Ethereum (ETH) a deflationary asset. As a result, the second-largest cryptocurrency will become a “yield-bearing asset.”
Based on the back and forth experienced in the Bitcoin market, a long-term approach is suggested for investment in the leading cryptocurrency, according to Jordan Belfort, a former Wall Street stockbroker.
With Bitcoin (BTC) hovering around the 200-week moving average (MA), some analysts believe that the top cryptocurrency might be laying grounds for a ranging market that would, later on, prompt a bullish cycle.
With speculations high that the Federal Reserve (Fed) will increase the interest rate by 75 basis points (bps) on June 15 to tame inflation, this might dent Bitcoin’s bullish outlook as the leading cryptocurrency continues to trade at an 18-month low.
After briefly slipping to the $21K zone, Bitcoin (BTC) continues to trade at levels last seen in December 2020. Glassnode believes BTC is entering the deepest part of the present bear cycle, given that even long-term holders are experiencing losses.
Major market players have explained the key to the future of cryptocurrencies. However, some of them suggest only merely tokens might survive after LUNA's event , taking reference to the bubble outbreak of Dot-Com's collapse.
As Bitcoin continues ranging between the $29K and $30K zone, the leading cryptocurrency’s inflection point is at $30,000, according to Mike McGlone, the senior commodity strategist at Bloomberg Intelligence.
Despite Bitcoin’s slashed valuation in the past few months, the leading cryptocurrency has steadily held the $30,000 level because of its unique decentralized proof-of-work (PoW) mechanism, according to Raj Chowdhury, the CEO of crypto trading platform PayBito
The urge to streamline operations and track assets with unprecedented precision are some of the factors expected to make the blockchain in the global manufacturing market hit $17.047 billion by 2027, according to a report by Research and Markets.