Unlocking the Potential of Bitcoin and Ethereum through On-Chain Metrics
Explore the latest insights from CryptoQuant on the on-chain analytics shaping the trajectory of Bitcoin and Ethereum in the current market landscape.
Bitcoin Metrics Analysis
- Track demand from permanent holders and whales
- Realized Cap surge among new whales indicates fresh investment
- Similar patterns observed to 2020 preceding the 2021 bull run
Exploring Ethereum Trends
- Rising demand from permanent holders and whales post ETF approvals
- Permanent holders making daily inflows of 40,000 ETH on average
- Whales holding record highs of around 16 million ETH
Concerns Amidst Positive Momentum
While direct demand for Bitcoin and Ethereum remains strong, a slowdown in stablecoin growth poses a potential challenge for the crypto sector as a whole.
- Tether (USDT) market cap surged during Bitcoin’s rally but has experienced a slowdown
- Stablecoins historically vital for capital inflow and sustainable rallies
Bitcoin Price Update
As of now, Bitcoin is trading around $70,200, registering a more than 4% increase over the past week.
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