‘Remarkable’ on-chain metrics could spell Bitcoin, Ethereum bull market retur...
On-chain data is showing more and more similarities to mid- and late-2020 — the springboard period for the Ether and Bitcoin bull market. Bitcoin (BTC) and Ether (ETH) have started showing “remarkable” bullish divergences that echo the start of bullish price trends.That’s according to the latest data collected by on-chain analytics firm Glassnode this week. BTC, ETH data mimics “mid to late 2020”In its latest weekly report, “The Week On-chain,” Glassnode revealed that while price action remains quiet, on-chain metrics suggest that it could well be lagging behind much more bullish....
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Numerous on-chain indicators suggest Ethereum price is on the verge of another 2017-style bull run. Ether (ETH) price is currently ranging between $440 and $470, which is similar to the price action seen in December 2017. Back then, the scenario ended up being incredibly bullish, and the altcoin quickly rocketed toward $1,400. Fast forward to 2020, and some investors believe a similar outcome may occur as a few key on-chain and technical indicators are mirroring the levels seen in the previous bull run.On Dec. 10 Ether price was $450, and it took only 34 days for Ether to reach its....
The $4 billion gap between the current decentralized finance TVL and an ATH could be closed using recent implementations from AAVE, Curve and Spell Token. As 2022 gets underway, the decentralized finance (DeFi) sector of the cryptocurrency ecosystem appears to be gaining momentum in what could be an echo of the bullish market seen in seen in early 2021. Data from crypto market intelligence firm Messari shows that over the past 30 days, five out of the top 10 DeFi protocols have seen their tokens post double-digit gains. This is in spite of the struggles that Bitcoin has faced, a dynamic....
CoinDesk Research's Monthly Review for October focuses on Bitcoin and Ethereum plus some of the stories their on-chain metrics are telling us.
Ethereum has undergone a strong bounce since the lows seen in September. As of this article’s writing, the coin trades for $372, around 20% above those lows. The cryptocurrency is about the set a weekly close above the $365-370 resistance. Despite this strong bounce in the price of Ethereum, on-chain metrics show that the blockchain is currently weakening. Fortunately, the leading cryptocurrency has positive fundamental and technical trends that may result in growth in the […]
Bitcoin remains on an upward trend after breaking through $40,000 once again. However, this upward trend has not translated onto on-chain metrics. While the price of the digital asset continues to sit in the green, on-chain metrics have plummeted paining an entirely different picture in relation to price. From miner revenues to transaction fees, the […]