On-Chain Analysis | ForkLog

ForkLog 45 17.06.2024

DYOR: What it is and why it matters to crypto investors

The cryptocurrency market is a world of uncertainty. Even seasoned investors are sometimes wrong-footed by abrupt price swings and sudden turns of events. An industry with a high project “mortality” rate, it demands not just intuition but a grasp of the fundamental principles of token valuation. Fundamental analysis is the assessment of an asset to […]

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ForkLog 18 05.06.2024

Renewed Interest in Bitcoin Purchases Observed by Analysts

After two months of sideways movement, digital gold has shown initial signs of a return to speculative activity, with potential for increased volatility. This conclusion was reached by Glassnode. Experts noted the sharp market reaction following reports of the movement of Mt.Gox BTC worth $9.8 billion. This could significantly impact several on-chain metrics. Adjusting for […]

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ForkLog 10 04.06.2024

Crypto Holders Retain Bitcoin Amid $70,000 Surge

Following Bitcoin’s price touching $70,000, more than half of the coins remain inactive, indicating long-term confidence in the asset. This conclusion was reached by CryptoQuant, reports CoinDesk. The lack of on-chain movements of such a high proportion of supply may suggest further price increases, experts added. In other words, the sentiment remains “stubbornly bullish.” “Despite […]

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ForkLog 8 03.06.2024

Ethereum Withdrawals Surge Following ETF Approval

Between May 23 and June 2, the total exchange balance of Ethereum decreased by 797,000 ETH ($3 billion), according to data from CryptoQuant. This indicates a reduction in the number of coins available for sale, as investors transfer assets to non-custodial wallets. On May 23, the U.S. Securities and Exchange Commission began discussing the S-1 […]

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ForkLog 9 16.05.2024

Speculators’ Impact on Bitcoin’s Trend Reversal Unveiled by Experts

On-chain metrics — MVRV, SOPR, and realised losses — show a strong correlation with the formation of local lows in a bull market. This was demonstrated by Glassnode. According to analysts, a group of short-term investors is the dominant group realising losses. They decided to support this empirical observation by identifying periods of seller exhaustion […]

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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 11 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 32 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 41 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 51 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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