Research: On-chain metrics continue signaling a Bitcoin bottom
Research: On-chain metrics continue signaling a Bitcoin bottomOn-chain Bitcoin metrics continue to suggest a market bottom, but it remains to be seen if the current cycle plays out the same as past cycles.
Happy Thursday!The global crypto market cap is $970.61 billion with a 24-hour volume of $42.69 billion. The price of Bitcoin is $20,891.99 and BTC market dominance is 41.4%. The price of Ethereum is $1,535.17 and ETH market dominance is 19.3%. The best performing cryptoasset sector is Adult, which gained 22%.
Latest NewsResearch: On-chain metrics continue signaling a Bitcoin bottom
On-chain Bitcoin metrics continue to suggest a market bottom, but it remains to be seen if the current cycle plays out the same as past cycles. FTX CEO John Ray creates taskforce to explore restarting exchangeCEO John Ray stated that ‘everything is on the table’ and if there is a path forward, FTX will explore it. ENS DAO considers proposal to auction 10,000 ETH for USDCENS DAO is considering a proposal to raise about $13 million from selling 10,000 ETH. The funds will be used to fund the DAO's operation over the next two years. Number of ETH holders grew 3.6x to 87M in 2022Ethereum holders account for 20% of the 425 million global crypto investors, while BTC holders account for 52%. Raydium exploiter moves $2.7M to Tornado CashBlockchain security firm Certik flagged that a wallet linked to the Raydium exploiter has moved about 1,774.5 ETH to Tornado Cash, according to a tweet on Jan. 19. Donald Trump NFTs surge 133% to $570 in 24 hoursCoinGecko tied the floor price rise to reports of Trump's planned return to social media platforms Twitter and Facebook. CryptoSlate Daily wMarket Update: US DoJ crypto enforcement announcement sends Bitcoin below $21,000The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays. Yuga Labs blacklists NFT marketplaces that do not support royaltiesThe Sewer Pass NFT contract blocks transactions from wallets linked to LookRare, SudoSwap, Blur, and NFTX. Roubini says 99% of crypto is a scam – ‘you have to stay away’Speaking from Davos, Nouriel Roubini renewed his attack on cryptocurrency and considering the events of 2022, even crypto advocates are starting to agree with him. KuCoin reports growth in volume, user count through crypto winterKuCoin's user count surpassed 27 million, while the spot and futures markets' combined transaction volume surpassed $3.6 trillion.
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