Category: Cryptocurrency News

Data shows the Bitcoin long-term holder supply has mostly moved sideways since the high in October of last year. Bitcoin Long-Term Holder Supply Has Stagnated As Sell-Side Balances Buy-Side As per the latest weekly report from Glassnode, the BTC long-term holder accumulation seems to have stopped following the October high. The “long-term holder” (or LTH in short) supply is the part of the total Bitcoin supply that hasn’t observed any movements since at least 155 days ago. When the value of this indicator goes up, it means more coins are maturing beyond the threshold. Sustained such trend can be a sign of accumulation from investors, and can prove to be bullish for the crypto’s value. On the other hand, a downtrend in the metric implies LTHs are selling their coins (thus resetting their age to zero days). Dumping from these holders is usually a bearish sign for the price of Bitcoin. Now, here is a chart that shows the trend in the BTC long-term holder supply over the past few years: Looks like the value of the indicator has stagnated recently | Source: Glassnode’s The Week Onchain – Week 12, 2022 As you can see in the above graph, the Bitcoin long-term holder supply hasn’t shown much movement since the high in October. The indicator seems to have followed a similar pattern over the past few years. Both in 2019 and 2021, the LTHs sold their coins and kicked off the respective bull rallies of the periods. Related Reading | Bitcoin NUPL Suggests Bear Market Yet To Hit In Full Swing And after the rallies started winding off, these holders started accumulating Bitcoin. At present, the holders have stopped the trend of hodling that started back in April 2021, but they also haven’t sold off. The sideways movement suggests the coins maturing into the LTH range are being balanced off by selling from these holders. Related Reading | Bitcoin Bullish Signal: Exchange Reserve Loses Another 50k BTC Over Past Week It now remains to be seen whether Bitcoin long-term holders will up the selling in the near future, or if they will return back into a trend of accumulation until the next bull rally. BTC Price At the time of writing, Bitcoin’s price floats around $42.9k, up 10% in the last seven days. Over the past thirty days, the crypto has gained 15% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price looks to have observed a sharp surge over the past twenty-four hours | Source: BTCUSD on TradingView Bitcoin had held above the $40k mark over the last few days, and today the coin spiked above the $43k level, before retracing back to the current levels. Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com

According to the OECD, the crypto market posed a “significant risk” around tax transparency, claiming that any gains will eventually be lost without additional safeguards.

Hey guys crypto enthusiast and absolute dumbass when it comes to understanding things here. With Ethereum getting congested heavily due to NFTs and Defi craze, the price of gas fee exploded and normal $100 guys like me have been completely steering off due to the ludicrous transactions cost. Now luckily there’s some very smart people…
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Just logged into my app to check the charts like I do every 5 minutes and this just came up. Currently it is in beta and not offered to all users. It is a subscription service that costs $29.99/month and will waive all trading fees on the app(still could be effected by spread) and it…
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BCH has been one of the biggest gainers in the last week, and that momentum continued during Tuesday’s session. As of writing this, ADA and HNT were also trading by over 10% higher, as bullish pressure remained within crypto markets. Bitcoin Cash (BCH) BCH was undoubtedly one of the biggest gainers on Tuesday, as it […]

Ethereum will continue to be the king, even if it comes at a higher gas price, because it is already widely adopted and extremely difficult to beat. It's very difficult to beat Ethereum, but there are a few cryptocurrencies to consider if you're looking for efficient coins that don't harm the environment on a large…
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Ethereum Classic moves to the upside and recorded impressive performance over the last week. ETC bulls have been making this push as Ethereum prepares for one of the most important events in its history, The Merge. Related Reading | Ethereum Whales Purchase Over $6 Million Worth Of APE Tokens Set to combined Ethereum’s Proof-of-Work execution layer with its Proof-of-Stake consensus layer. The Merge will finalize the launch of this network’s PoS chain. At the time of writing, Ethereum Classic (ETC) trades at $43 and records a 10% and 66% profit in the last 24 hours and 7 days, respectively. The Merge is expected to reduce Ethereum’s energy usage by almost 100%, contribute to making ETH a deflationary asset, and provide stakers with rewards for securing the network. In addition, this event could mark a new step in the network’s adoption curve as users will leverage layer-2 scalability solutions, reducing network transaction fees. The Merge also means no more ETH mining sector. These operations will need to use their hardware to mine a different cryptocurrency. Ethereum Classic seems like the most logical option. The Merge will: Drop Ethereum's energy usage by ~99.95%Drop Ethereum's issuance from ~5.4M ETH/yr to ~0.5M ETH/yrProvide ~5-15% APR on staked ETH (as TX fees will go to stakers) The Merge will not lower transaction fees. L2s and EIP-4844 will take care of that. pic.twitter.com/8cwslEQtgM — pseudotheos (@pseudotheos) March 21, 2022 Miners will no longer be needed with the deployment of Ethereum 2.0. All of this chain hash power will migrate to ETC. As the event that will make Eth 2.0 happen seems imminent, the market seems to be pricing in this potential hash power migration. Data from Material Indicators shows an increase in buying pressure for ETC over the past week. As seen below, investors from different classes have been contributing to the rally. Everyone but whales bought in on ETC’s price potential. The chart shows retail investors (in yellow), and investors with bid orders from $1,000 to $10,000 have moved in tandem with ETC’s price action. The former, investors with bid orders of around $1,000, seem more relevant for Ethereum Classic. The chart shows this class has been increasing its purchase as the price moves to the upside, suggesting these bids have been crucial to sustaining momentum. Can Ethereum Classic Sustain Momentum? In shorter timeframes, investors shown with the green line, above in the chart, seem to have slowed down on their purchase. Thus, ETC’s price could see some downside price action in the short term. In the long term, the sustainability of the rally could depend on these investors resuming ETC purchases. The market has seen a boom in the price of “dino coins” or long data altcoins. Related Reading | Ethereum Classic Displayed Double-Digit Gains; What’s Next! Bitcoin Cash (BCH) records a 14% profit in the last 24 hours and a 30% profit in the past week. Our Editorial Director Tony Spilotro said the following on ETC, BCH, and other dino coins’ potential for a fresh leg up: The altcoins that no one is paying any attention to anymore, are going to shine soon. Even Bitcoin Cash is up like 10% today. LTC, Dash, BCH, XLM, EOS, etc. I don’t necessarily advocate buying them, but I do expect this sector of paleo-altcoins to rally strong soon.

On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss which coins you should consider buying in a bear market.