On-Chain data shows the metroin metrics of a recently turned up, with active addresses that cross even when the shopping volume goes up.
Metrics of Bitcoin work show mixed image
In the latest Pulse Pulse report, On-Chain Analytics Firm Glantnonede said a few Bitcoin related indicators changed during the last week.
The first metric of interest is “working address,” which is, as its name displays, the total number of addresses faxed with some form of a daily transaction work.
Now, here is a chart showing a tendency to the calcoin address about the last few years:
The value of the metric appears to have plummeted in recent days | Source: Glassnode's Market Pulse - Week 34
As shown in the graph above, the active address is full on top of mathematical band at the beginning of the month when the Cryptocurrency price sets up new top (Ath) for more than $ 124,000. This suggests the participation participation and the meeting.
During the decline in price followed a high value, however, the number of indications has ended. Metric is currently sitting in 692,000, less than 2.2% compared to last week. This amount is under the lower 712,000 low group, which indicates that the seller’s care in Cryptocurrency took the largest border.
While the effective address calculation is included, another metric, on-chain transfer volume, rise instead.
The trend in the BTC On-Chain Transfer Volume during the last two years | Source: Glassnode's Market Pulse - Week 34
From the chart, it seems that the volume of the Bitcoin Bitcoin visited the UPTICK on the side of the Ath this month, but there is a state of coolness at the price.
The index has been established by 7.8% to $ 10.3 billion, above the higher band of £ 10.15 billion. But one question comes up: If the number of participants participated in the transmission work has passed since it is raised by Tred to active address, why the On-Chain Transfer Volume has increased?
The answer is that, although both metrics are related to a network work, which are compatible with different parts of investors. Small hands go through great officers, so the effective address count indicates the work of the shop investors. On the other hand, the Whale’s wholesale transactions are traveling, so the chain transfer volume is often governed by the perspective of major income.
The broken divergence between the two Bitcoin indicators can indicate that the sale of sale has been quiet after a decrease in price, and whales have exploded.
BTC price
Bearish Momentum goes on Bitcoin during the last 24 hours as its price has entered $ 109,900.
Looks like the price of the coin has been sliding down over the last few days | Source: BTCUSDT on TradingView
Picture included from Dall-e, Glassnode.com, Chart from TradingView.com
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