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Despite Bitcoin’s Price Highs, Onchain Data Shows BTC Miners Are Not Spending More Than Usual
25.12.2020
The cryptocurrency economy has been higher in value than ever before as bitcoin has touched an all-time price high at $24,298 per unit. Regardless of the all-time price highs, the world’s bitcoin miners are not spending more bitcoin than usual according to onchain statistics. Bitcoin miner...
Bitcoin Addresses Holding $1 Million Goes ‘Parabolic,’ 10% of BTC Supply Sits Idle for 10 Years
18.12.2020
While bitcoin trades above the $20k handle, onchain data shows that the number of bitcoin addresses holding at least $1 million has climbed substantially increasing by more than 150%. Moreover, Glassnode’s statistics indicate that roughly 1.85 million bitcoin hasn’t moved in over...
Crypto Billionaires: Ripple’s Jed McCaleb World’s 40th Richest Person, Cofounder Sells 29 Million XRP Last Week
11.12.2020
According to onchain data analytics researchers, one of the founders of the company Ripple, Jed McCaleb allegedly sold 29.5 million XRP in a single day. McCaleb, an early cryptocurrency investor, and self-made entrepreneur is one of the richest men on the planet. There are a number of investors...
Trading Exchange Okex’s Crypto Reserves Nosedived After Withdrawals Opened
6.12.2020
Just recently, after the exchange paused cryptocurrency withdrawals, the trading platform Okex finally enabled digital currency withdrawals last Wednesday. Since then, the exchange seems to be experiencing an exodus of funds leaving, as onchain data shows Okex’s crypto-asset reserves like...
20 More Block Rewards from 2010 Spent Today— Why Are Decade-Old Bitcoins Waking Up?
8.11.2020
Following the 21 coinbase rewards from 2010 spent on November 7, another long string of so-called ‘sleeping bitcoins’ mined a decade ago were transferred on Sunday morning. According to onchain data, the 20 block rewards from 2010 with 1,000 BTC were transferred at 4:02 a.m. EST. A...
Onchain Data Shows Rising Bitcoin Whale Index Surpassing 4-Year High
27.10.2020
Onchain analytics from the research and analysis firm Glassnode shows that the number of bitcoin whales (addresses with at least 1,000 bitcoins) has surpassed 1,900 clusters. The number of network participants in terms of 1,000 coin whales hasn’t been this high since 2016. Seven-day trailing...
187,000 BTC Drained: Over $2 Billion in Bitcoin Leave the Top Exchanges Since June
17.10.2020
Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen...
Cumulative Ethereum Transaction Fees in 2020 Supersede Bitcoin’s by a Long Shot
30.9.2020
This week the research and analysis team Coin Metrics published a report on how decentralized finance (defi) is “fueling Ethereum’s growth.” Meanwhile, the researchers also highlighted that Ethereum’s cumulative transaction fees in 2020 are now over $350 million and more...
Market Outlook: Bitcoin Breaks $11K, Whales Refuse to Sell, Downside Risk Remains
19.9.2020
The price of bitcoin jumped above the $11k threshold on Saturday morning and into the afternoon, after hovering above the $10,900 range the day prior. The entire crypto-economy of 7,600+ coins has gained 2.29% during the last 24 hours touching $344 billion. Bitcoin (BTC) markets have surpassed...
$700 Million Worth of Synthetic Bitcoin Is Circulating on the Ethereum Blockchain
8.9.2020
According to onchain data, there’s now 69,836 synthetic bitcoin tokens (over $700 million) circulating on the Ethereum blockchain. Out of the six synthetic bitcoin token projects, wrapped bitcoin (WBTC) commands the largest number of coins with over 63% and 44,622 WBTC. Synthetic bitcoin...
Whale Watch: 68 New Whales Join ETH Network, BTC Holds Lowest Concentration of Whales
7.9.2020
Onchain data shows that during the market carnage this past weekend the number of ethereum whales increased significantly, while ETH prices dropped by 30%. Analytics from the data firm Santiment shows 68 new whales joined the network during the last three days. During the last three days...
Onchain Data Shows $449M Worth of Bitcoin on ETH Eclipses Offchain Competitors
17.8.2020
Onchain analytics show the number of bitcoin (BTC) held on the Ethereum blockchain has been multiplying at an extremely fast rate since the end of May. On Sunday, August 16 there’s approximately 38,021 BTC on Ethereum or roughly $449 million stored in synthetic bitcoin protocols like Wbtc...
Blockchain Analytics Show Altcoins 2x More Prominent in East Asia Compared to North America
8.8.2020
On August 6, the blockchain intelligence firm Chainalysis published a report that analyzes cryptocurrency trends across various regions worldwide. According to the statistics, North America purchases and holds more bitcoin than any other region. Bitcoin also accounts for the largest share of U.S....
93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday
29.7.2020
Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm...
Miner Hoards: Q2 Bitcoin Mining Supply Outflow Touches 12-Month Low
17.7.2020
Onchain data shows that bitcoin miners are hoarding despite the 50% loss in revenue that started on May 11, during the third reward halving. The seven-day average of bitcoin miners’ outflow volume and mining funds sent to exchanges remains significantly low. Roughly four weeks ago on June...
Holders Gather 233K BTC This Year, While Bitcoin Cash Savers Outshine Composition by Time Held
19.6.2020
Market data from Glassnode shows that bitcoin holders have increased their positions by 233,000 BTC since January 1, 2020. However, when it comes to holders making money at the current price, bitcoin cash and bitcoinsv have performed better and the concentration of large holders is larger too....
12 Months of Onchain Data Shows Bitcoin Whales Obtained Hundreds of BTC from Small Fish
2.5.2020
According to recent data, crypto participants known as ‘bitcoin whales’ have been steadily accumulating bitcoins, and not selling since the ‘Black Thursday’ market carnage on March 12, 2020. Onchain data and blockchain analysis firms indicate that the number of bitcoin...
Onchain Data Suggests Bitcoin Sell-Off Fueled by New Investors
20.3.2020
While the covid-19 outbreak has caused economic calamity, cryptocurrencies have regained some of the losses that devastated digital currency markets on March 12. A recent report published by the researchers at Coin Metrics notes the “crypto asset sell-off was driven by short-term...
Proof of Keys Day Returns on Bitcoin’s 11th Birthday
3.1.2020
Last year’s inaugural Proof of Keys day didn’t see massive amounts of bitcoin withdrawn judging by onchain data – but it did serve to educate a community. Trace Mayer’s call to arms also put exchanges on notice, with some disabling withdrawals, citing unscheduled...