Against a gradual market recovery since mid-March, the aSOPR (7MA) remains above 1. This points to improved market sentiment and profit-taking by the majority of market participants. This is stated in ForkLog’s analytical report.
On March 25, net realized profit of Bitcoin investors reached $2.3 billion. The last time similar readings were observed was February 1.
The share of coins not moved for more than a year surpassed 63%. The indicator near a historical high suggests that most hodlers did not sell their coins during two corrections of more than 50% in the last year.
Since the activation of EIP-1559 in August 2021, the Ethereum blockchain has burned more than 2 million ETH. In February–March, the protocol removed more than 330,000 ETH from circulation.
The share of ETH locked in DeFi protocols remains high — at the end of March the figure stood at 27.18%, slightly lower than in January (27.48%).
Sponsor of the ‘Bitcoin industry in numbers’ section — the global blockchain ecosystemBinance.
Earlier, Galaxy Digital founder Mike Novogratz called the pause in the Fed‘s monetary tightening the main condition for Bitcoin’s growth.
Renowned technical analyst and head of Factor LLC Peter Brandt predicted Bitcoin’s return to a bull market in May 2024.
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