Bullish for Bitcoin: Data Reveals Spike in Activity from New BTC Investors
Bitcoin’s price action hasn’t been providing investors with many insights, as it has primarily stagnated as it trades around $10,700 The cryptocurrency market is currently resting on the edge of a blade as investors closely watch to see where BTC may trend in the near-term One trend that seems to point to underlying bullishness is a spike in activity seen amongst new market participants While speaking about this, one on-chain analyst said that this spike […]
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On-chain data shows crypto exchange Coinbase saw a withdrawal of 400k Ethereum yesterday. This could be a sign of activity from institutional investors, and could prove to be bullish for the coin. Coinbase Observes Outflow Of 400,000 ETH As pointed out by a CryptoQuant post, about 400k ETH (1.5 billion at the current exchange rate) was withdrawn yesterday from the crypto exchange Coinbase. The indicator used here is the Ethereum outflow, which shows the total number of coins exiting wallets of the exchange. When the metric shows a big spike, it means a lot of ETH was withdrawn from the....
Bitcoin price has been flat for nearly a month but on-chain data shows a bullish surge in new participants joining the network. The price of Bitcoin (BTC) has remained relatively flat for September and the strong decline in altcoin and DeFi token prices seems to be making the situation worse for many investors. Despite this lack of bullish momentum, on-chain data reveals that new participants are joining the Bitcoin network at an alarming rate. Although the price has failed to react to the sharp inflow of new participants, on-chain analyst Willy Woo believes that this is a strongly....
Analysts reported that there is a growing demand for Ethereum due to the increasing appeal of the digital currency to large investors. The whale activity serves as one of the indicators that the cryptocurrency is gaining momentum for possible significant growth, capitalizing on the positive market sentiment on the crypto industry. Related Reading: Chainlink 125% Target In Sight As Whale, On-Chain Activity Soar—Analyst Growing Whale Activity Santiment reported that the number of transactions made by Ethereum whales saw a huge spike in recent days. ETH whales refer to large investors who....
Data from Santiment suggests that three altcoins have recently seen particularly notable bullish action in their address activity. Render, Aave, & Maker Are Altcoins Seeing High Active Addresses Currently In a new post on X, the on-chain analytics firm Santiment discussed the altcoins currently witnessing a significant surge in network activity. The relevant on-chain metric […]
Dogecoin (DOGE) is at risk of a significant price decline due to its network activity, which has remained flat for a while now. Despite a bullish spike in some other metrics, this on-chain metric remains vital for the foremost meme coin’s growth. Dogecoin Network Activity On The Low Data from the market intelligence platform IntoTheBlock […]