Report: On-chain data points to crypto consolidation in Q3
The latest quarterly report from DappRadar highlights a period of consolidation across the cryptocurrency ecosystem following a turbulent Q2. A third quarter industry report from DappRadar citing on-chain metrics suggests cryptocurrency markets are showing signs of recovery from ongoing bearing market conditions.A number of factors played their part in a busy third quarter of 2022, with Ethereum’s Merge marking a successful shift to proof-of-stake having a notable influence on layer 2 activity before the event. The report also highlights a slight recovery in the overall cryptocurrency....
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Blockchain loyalty platform Chain of Points has appointed iPayYou CEO and ex-Amazon executive Gene Kavner to its board of advisors. In a press release issued Tuesday, Kavner, whose startup facilitates Bitcoin payments with merchants including Starbucks, said he was “honored” to join Chain of Points. “Chain of Points is the clear leader in the Blockchain-loyalty market and has realized tremendous growth over the past few months,” he commented. “I look forward to working with the company's management team to drive Chain of Points in the market as an essential component of the retail and....
As a result of last week’s remarkable surge, Bitcoin is now seeing one of its largest drops in recent months. After starting the week at $18,742, the coin’s price jumped to a staggering $22,537 on September 14, a gain of 15% over its September 7 low. Since the market bottomed in June, this rally has been its strongest. Bitcoin’s steep 14 percent correction during the crash almost entirely nullified this gain. Bitcoin’s value dropped from $22,536 to $19,735 in the space of just two days. Bitcoin’s link to the S&P 500 Index is blamed for the recent decline in....
Many investors have been left dissatisfied with Cardano’s performance this year due to the huge decline in the value of ADA, the native cryptocurrency of the blockchain. On-chain data shows that the percentage of Cardano (ADA) addresses that have been lost is already over 94%, and data points to the possibility of further losses soon. […]
Bitcoin on-chain analysis can be a good way to try to guess where the market is headed. The market tends to repeat itself with metrics looking the same before a bull or a bear rally, thus making this data a pretty good indicator of what’s to come. Analyst Willy Woo uses this same data to demonstrate a pattern that occurs before the bull rally, the criteria which are being met once again. Start Of A Bull Run? In a recent string of tweets, analyst Willy Woo presents data from on-chain analysis that points to the bitcoin dump having reached its bottom. According to him, “Price in relation to....
BTC bulls aim to confirm $20,000 as support as fresh on-chain data begins to signal that the bottom might be in. While Bitcoin (BTC) price support may be psychological for some traders, the statistics behind BTC remaining over $20,000 for a week are strong indicators of price support or in other words, a new bear market floor. Multiple Bitcoin data points might be able to establish a $20,000 support level. Last week Bitcoin reached a high of $20,961. However, it never sustained its upward momentum as the rally fizzled out, failing to break $21,000 support. As a result of the rally as well....