So I first started investing in crypto in March and since then I have doubled my money and I'm pretty happy about how things are going so far. Even though I live in my parents house, I have a job and I saved up most of my income in three years of working. I decided…
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I bought LTC back in 2017 without knowing anything about crypto. I was just a naive college student who watched it go up and down from $400 to $30 back up to $400 down to where it is now. I’m thankful for the journey because it opened my eyes to the world of cryptocurrency and…
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On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled […]
The first series of auctions will begin on Nov 11 and run until Dec. 9
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Data shows Bitcoin short-term supply has reached an all-time low value. This may mean that investors aren’t keen to sell at this level despite the latest rally up where the coin broke $57k. Bitcoin Short-Term Supply Records All-Time Lows According to the latest Arcane Research weekly report, the BTC short-term supply is currently floating around all-time low values. The “short-term supply” here refers to the supply of coins that were moved on the chain within the last three months. When this indicator’s value moves up, it means there are a lot of short-term holders in the market right now who are looking to make a quick profit. On the other hand, a decrease in the metric’s value suggests not many holders are interested in selling right now, and that they are waiting for longer gains. Now, here is a chart that shows the trend in the Bitcoin short-term supply over its entire history: Looks like the indicator is currently touching all-time lows | Source: The Arcane Research Weekly Update – Week 40 As the above graph shows, the short-term supply has been on a downtrend in the past few months, and has now reached lows never seen before. Looking at the chart, it seems like the only other time the indicator showed values close to this low was back in 2015. Related Reading | As Bitcoin Breaks $57k, Quant Explains Why It Could See A Pullback Here On 30th September, the BTC short-term supply was at around 14.7%. This is its lowest value ever. In the past couple of weeks since then, the metric has seen a slight increase to 14.9%. The reason behind this small rise is Bitcoin’s current rally where the coin broke $47k for the first time since May of this year. One thing to note here is that this indicator is based on the on-chain movement of the coins. So if some investors are keeping their BTC on exchanges rather than personal wallets, the metric will not show any rise when they sell their coins on the exchange. Related Reading | Only In Crypto: A Croissant Lists Potential Bullish Drivers For Bitcoin And Ethereum In Q4 2021 Because of this, the short-term supply isn’t the most accurate indicator of whether investors are realizing their profits or not. Nonetheless, it does show that many holders with their own wallets are holding off on selling right now as they think the price will go further up. BTC Price At the time of writing, Bitcoin’s price floats around $54.9k, up 0.7% in the last seven days. Over the past month, the crypto has gained 24.6% in value. The below chart shows the trend in the price of BTC over the last five days: Looks like Bitcoin is showing a dip right now after a large move up | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
