Best Altcoins to Buy Now as Contracting Supply Set to Push Bitcoin past $200K...
Bitcoin can soon cross the $200K mark due to rapidly contracting supply. Matt Hougan, the chief investment officer of Bitwise, said that the king cryptocurrency can hit the milestone by the end of 2025, considering demand and supply. Hougan’s rationale is that miners can only produce 165,000 $BTC this year. On the other hand, Strategy alone has bought 379,800 $BTC over the past six months. This means that miners can’t produce enough $BTC to satiate the market’s demand. Moreover, a huge amount of money has been flowing into Bitcoin ETFs, with the total now standing at $6B. Add....
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According to on-chain data, around 200k ETH entered exchanges yesterday, a sign that Ethereum might face more downside soon. Central Exchanges Observe Inflow Of 200k ETH As pointed out by a CryptoQuant post, more than 200k ETH entered exchange wallets yesterday. At the current rate, this amount is worth about $839 million. The relevant on-chain indicator here is the Ethereum netflow, which shows the net amount of the crypto entering or exiting central exchanges. Its value is calculated by taking the difference between the inflows and the outflows. When the metric has negative values, it....
Ethereum 2.0 now has more than 6.6 million ETH staked. This is more than 5% of the total supply of the cryptocurrency. Staked Ethereum Reaches New Milestone: 5% Of The Total Supply The ETH 2.0 network now has 200k validators accounting for about 6.6 million in Ethereum staked. The current annual percentage return (APR) is […]
Data shows around 15% of the total Bitcoin supply is now in loss, a value that has historically been sufficient to push the price down. Percentage Of Bitcoin Supply In Profit has Fallen Down To Just 85% As per the latest weekly report from Glassnode, the total BTC supply in profit has fallen down to just 85% this week, meaning that 15% of the supply is now in loss. The “percent supply in profit” is a Bitcoin indicator that highlights the share of the total supply that’s currently in profit. The metric works by looking at what price each coin in the chain was last moved....
Bitcoin has been explosive all of 2020, and while certain altcoins like Ethereum and a slew of DeFi tokens have outperformed the top cryptocurrency this year, altcoins overall have been a disappointment compared to past cycles. Those who lived through past cycles, expected altcoins to take off the moment Bitcoin surpassed its previous peak. But […]
Most large-cap altcoins have moments of brilliance in this current bull cycle, with Solana and XRP being some of the stand-out performers. On the other hand, Ethereum “the king of altcoins” has struggled to impress, underperforming over the past year. The latest on-chain data shows that a significant percentage of ETH investors are now underwater, […]