Holders Accumulate, Blockchain Activity Decreases In Both Bitcoin And Ethereum
In bear markets, holders accumulate showing unwavering faith. The other side of that is a decrease in the “willingness to spend” or use the assets. The latest Intotheblock report “highlights the diverging pictures between on-chain demand and accumulation of the largest two crypto-assets.” Some people still have trouble admitting we’re currently in a bear market, but the signs are everywhere. Related Reading: This On-Chain Indicator Suggests Bitcoin Still Only 1/3rd Into Bear Market Why would you move your money if your goal is to accumulate? It doesn’t make sense. The whole situation....
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Bitcoin was able to score some profits over today’s trading session as the market slightly rebounded after a spike in selling pressure. This saw the largest cryptocurrencies trading in the red negatively impacting market sentiment. Related Reading: Holders Accumulate, Blockchain Activity Decreases In Both Bitcoin And Ethereum At the time of writing, Bitcoin (BTC) trades at $20,300 with a 1% profit over the last 24 hours and a 6% loss over the past week. In the crypto top ten by market cap, BTC stands as one of the best performers only surpass by ETH’s price by 4% over the same period.....
Ethereum holders have been filling up their bags while the broader market had panicked through the dip it seems. The digital asset which had suffered from crashes and dips that had hit the market had seen its value fall as low as $2,500. However, these ‘diamond hands’ holders had remained unfazed given that data showed that they continued to accumulate ETH tokens all through the market dip. Ethereum Holders Load Up Ethereum holders, especially those who have held for longer, are more likely to add coins to their holdings while the market is in a downtrend. This was the case during the last....
Despite being underwater on a portion of BTC positions, data shows long-term holders continuing to accumulate Bitcoin in its current range. Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins. According to a recent report from Glassnode, Bitcoin hodlers are now “the only ones left” and they appear to be “doubling down as prices correct below $30K.”Evidence of the lack of new buyers can be found looking at the number of....
Users have been looking forward to this snapshot for a while but while they'll be getting BOBA tokens later in the month, the value of their OMG tokens crashed by one third today. The price of OMG Network (OMG) has plunged 33% from a daily high of $19.35 down to around $13 immediately after completion of the snapshot for an airdrop from the Boba Network.The snapshot of all wallets holding OMG tokens on the Ethereum network and the layer-two Boba Network took place at 12am UTC on Friday. OMG holders at the time of the snapshot will receive BOBA, the governance token for BobaDAO on Nov.....
On-chain data shows Bitcoin whales haven’t budged despite the recent dips, and are rather continuing to accumulate more. Whales Continue To Accumulate More Bitcoin As pointed out by a CryptoQuant post, the Bitcoin sum coin age (SCA) indicator has been going up, showing long-term holders are continuing to accumulate. The SCA is a BTC metric that tells us about the distribution of long-term holders. It’s calculated by taking the product of the UTxO (Unspent Transaction Output) alive days and the UTxO value. The “age” of a coin is measured in “coin days.”....