On-Chain Analysis | ForkLog

ForkLog 13 14.05.2024

Glassnode Advises Caution Amid Potential Bitcoin Sell-Off

On-chain indicators suggest that Bitcoin is experiencing a phase of consolidation and potential correction. Market participants should exercise caution, warned Glassnode. Experts proposed a system of metrics to track market trends and shifts: On-chain activity: an increase in these metrics usually correlates positively with price growth. Profitability: a trend of rising unrealized profits indicates periods […]

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ForkLog 10 13.05.2024

Bitcoin’s Dip Below $60,000 May Trigger Panic Selling, Warns Expert

A drop in the price of the leading cryptocurrency below $60,000 could trigger panic selling, according to FxPro trader Alex Kuptsikevich, reports CoinDesk. The expert believes that a breakthrough above $65,000 would signal a revival of bullish sentiment. If this prediction comes true, it would lead to the price stabilizing above the 50DMA and the […]

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ForkLog 29 09.05.2024

Cryptocurrency Exchange Volumes Decline for the First Time in Seven Months

The combined volume of spot and derivatives cryptocurrency markets fell by 43.8% in April to $6.58 trillion, following a record high in March of $9.12 trillion, according to data from CCData. This positive trend was interrupted after six months. Data: CCData. Experts attributed the trend reversal to escalating geopolitical tensions and a slowdown in inflows […]

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ForkLog 30 08.05.2024

Glassnode Analyzes Bitcoin and Ethereum Divergence Post-Halving

The relatively poorer performance of Ethereum compared to Bitcoin following the halving is attributed to capital rotation, according to a new review by Glassnode. After the fourth historical reduction of miner rewards by half, the price of digital gold experienced an 11% correction, the deepest since the FTX collapse, dropping to a two-month low of […]

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ForkLog 12 06.05.2024

Bitcoin Blockchain Surpasses One Billion Transactions

Over 15 years, the network of the first cryptocurrency has processed 1 billion transactions. On average, 178,475 operations were conducted daily over the 5603 days of the blockchain’s existence. #Bitcoin has officially processed over 1 billion transactions. pic.twitter.com/kS704YYoW5 — Wicked (@w_s_bitcoin) May 5, 2024 This milestone was reached at block #842,241, mined by the Foundry […]

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ForkLog 37 30.04.2024

Bitcoin’s Price Floor Predicted Between $60,000 and $66,700

Bitcoin has entered a broad distribution phase after reaching a new ATH above $73,000. According to Glassnode, a price floor is currently forming between $60,000 and $66,700. Experts have concluded that the euphoria following the correction has weakened but is not yet exhausted. The Accumulation Trend Score metric illustrates how investor accumulation patterns relate to […]

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ForkLog 48 25.04.2024

Runes Tokens Dominate Bitcoin Transactions

On April 24, tokens on the Runes protocol accounted for 51.5% of daily transactions on the Bitcoin blockchain. Traditional BTC operations comprised 46.9%, according to a dashboard on Dune. Source: Dune. The previous day, these figures reached 81% and 18.8%, respectively. The combined share of Ordinals and BRC-20 did not exceed 2%. The excitement surrounding […]

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ForkLog 21 24.04.2024

Bitcoin’s Evolution Through the Lens of Halvings

Following the fourth halving, Bitcoin has definitively surpassed gold as the scarcest asset in terms of supply growth. Glassnode conducted a retrospective analysis of events from the perspective of price and fundamental network metrics. On April 20, the fourth halving occurred in the Bitcoin network. The block reward was reduced from 6.25 BTC to 3.125 […]

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ForkLog 17 23.04.2024

CryptoQuant Observes Generational Shift Among Bitcoin Whales

Investments in Bitcoin by “new” whales have nearly doubled those of “old” major players, according to CryptoQuant CEO Ki Young Ju. The new whales’ initial investment in #Bitcoin is almost twice the old whales’ cumulative total. pic.twitter.com/SU5Aiw1nJB — Ki Young Ju (@ki_young_ju) April 23, 2024 The expert classified “whale” addresses as those not associated with […]

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ForkLog 8 23.04.2024

Arkham Identifies Millions in ‘Forgotten’ Crypto Assets on Cross-Chain Bridges

Tokens worth millions of dollars remain unclaimed in contracts associated with cross-chain bridges, according to experts at Arkham Intelligence, reports The Block. Experts identified several such addresses belonging to major players in the DeFi and NFT sectors, including a presumed connection to Ethereum co-founder Vitalik Buterin. “There are dozens of accounts with six to seven-figure […]

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ForkLog 13 18.04.2024

The Crucial Role of the $60,000 Threshold for Bitcoin’s Price Stability

Should Bitcoin fail to maintain the $60,000 level, it risks a decline to $52,000 before resuming its upward trajectory, according to CryptoQuant. Experts noted that a pessimistic outcome is not inevitable, thanks to the dominance of ETF purchases. Institutional clients could absorb the excess supply resulting from liquidations triggered by a breach of $60,000. Analysts […]

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ForkLog 28 16.04.2024

Impact of Restaking on Ethereum’s On-Chain Metrics Analyzed by Experts

The introduction of restaking protocols EigenLayer and LRT has increased the share of ETH in staking to 26% of the total supply. Glassnode examined how this trend could affect Ethereum’s role as a monetary asset. Analysts recorded a rise in the total number of coins staked to 31.4 million ETH (as of April 13). Data: […]

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#On-Chain Analysis