Zero to 6,000% in seven days, dormant altcoins are coming back to life
Previously dormant altcoins are suddenly erupting, and it's not very clear why. A rising tide lifts all boats — even those previously thought to be shipwrecked. At least that’s how it looked on March 17 when some previously dormant altcoins erupted back into life, experiencing spikes ranging between 3,000% and 6,500% for the week. Foremost among them was Karma (KARMA), a social media project that originally launched on the EOS blockchain in 2018. Over the past seven days the dollar value of Karma increased 6,530%, as the token climbed from a sub-cent price of $0.000464, up to....
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BTC price action in 2022 is being accompanied by seriously old coins leaving hibernation after 10 years or more. Bitcoin (BTC) is seeing some of its oldest coins come back to life after a decade lying dormant.The latest on-chain data reveals that two-year BTC price lows have reawakened the most ancient part of the supply."Very old" Bitcoin come back to lifeAs BTC/USD returns to levels not seen since Q4 2020, questions are arising over how long-term holders will respond.The on-chain picture is mixed — the dormant supply is aging, but certain old hands are showing signs of wanting to sell at....
The last ten days have seen all resistances give way. Ten day ago, I was telling you “The coming days do not look bright, and Bitcoin could well get bellow $255 quite fast.” Well… The coming days aren’t any brighter. Now there is no resistance left, Bitcoin could fall to $100 without surprising me. In this context, some of you may want to diversify in other altcoins. Be, however, careful with this: remember the first rule mentioned in the previous article: The market is always right. The second rule is that if the price is king, the liquidity is queen. There are numerous altcoins around,....
12 years ago, Bitcoin’s inventor Satoshi Nakamoto launched the network after revealing the cryptocurrency concept via the white paper a few months prior. At approximately 18:15:05 UTC, the network launched its first block and since then, over 664,000 bitcoin blocks have been mined. Moreover, on the 12th anniversary of the network coming to life, a large string of 2010 block rewards started moving after more than ten years of sitting idle. The 12th Anniversary of the Bitcoin Blockchain Cryptocurrency proponents are celebrating the invocation of the first computational network to solve....
Data shows the Bitcoin 90-day Coin Days Destroyed metric has hit an all-time low, here’s what it says about investors in the BTC market. Bitcoin 90-Day CDD Has Recently Plunged To A New All-Time Low As per the latest weekly report from Glassnode, old BTC supply is more dormant right now than it has ever been during the history of the crypto. A “coin day” is defined as the amount accumulated by 1 BTC after sitting still for 1 day. The total coin days on the network, therefore, is a measure of how many days all the coins on the network combined have been stationary for, or....
Crypto investors had been moving out of altcoins through the market downtrend due to the high volatility that rocked these digital assets. As a result, the fall in these altcoins was more brutal than that recorded in bitcoin. However, as the tide has begun to turn and the market is looking towards more of a bullish trend, these altcoins have taken their place at the top of the recovering chain, prompting investors to rush back into them. Altcoins Provide More Gains Over time, it has been shown that altcoins record the widest movements during any type of market. So just as they have a high....