Bitcoin Price Growth Mirrors Demand – On-Chain Metrics Show A Slowdown Since ...
Bitcoin is trading below the $100K mark after a rollercoaster of a week, marked by intense volatility and sustained selling pressure. Last Sunday, the cryptocurrency faced extreme market turbulence, dropping over 9% in less than 24 hours. While BTC managed a recovery bounce on Monday, the selling pressure has not subsided, leaving the market uncertain […]
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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 […]
Although Bitcoin prices made a strong 15% recovery over the past week, metrics suggest more network demand would be needed to sustain further price increases. With several on-chain metrics for Bitcoin (BTC) still in a bearish range, a continuation of the recent price recovery will require increased demand and fees spent over the network, says Glassnode. The assessment of mediocre market growth over the past week came from blockchain analysis firm Glassnode in its latest The Week On Chain report on August 1.In it, analysts pointed to sideways growth in transactional demand, active Bitcoin....
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 […]
Dogecoin has seen a slowdown in momentum with price crashes that have plagued the market. Things like transaction count metrics have shown that Dogecoin may be slowing down as the asset loses more o its value. Bitcoinist reported in September that the transaction count of Dogecoin had dropped to levels not seen since 2017. On-chain […]
Bitcoin on-chain activity has been swinging between green and red for a while. This time around, though, after the price of bitcoin had suffered a tremendous loss, the on-chain activity has turned to the downside once more. The decline has cut across the majority of metrics, leading to as large as double-digit declines in some […]