Stablecoin transfer volume increased 16x during past 4 years

Increased stablecoin usage could be a sign of growing crypto adoption for a maturing industry.

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Bitcoin network transactions and fees surge amid investor de-risking

Investors are urgently sending Bitcoin into exchanges in order to either de-risk their portfolio or to protect margin positions with more collateral according to Glassnode’s latest report.

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Bitcoin whales jumping ship as exchange inflows reach 3-month high

The Bitcoin market appears to be retracing the gains it has made since January as whales may be exiting and selling on centralized exchanges according to Glassnode.

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OpenSea Transaction Volume Increased Over 600x In 2021; Now Valued At $13.3 Billion

OpenSea was valued at $1.5 B in July of 2021. After its latest funding round the NFT marketplace is valued at a staggering $13.3B.  Covered: OpenSea Is Now Valued At $13.3 Billion OpenSea’s Commitment To Expansion And Growth OpenSea Is Now Valued At $13.3 Billion In an announcement via a blog post yesterday, the most […]

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Ethereum’s Transaction Volume Scales the Heights by Topping 2.14B ETH in 2021

With an annual return rate of 399.2%, Ethereum (ETH) has scaled the heights in 2021 thanks to increased adoption and notable upgrades like the London Hard Fork. (Read More)

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Despite Red Bitcoin, On-Chain Signals Flip Green

Bitcoin on-chain signals have remained green despite the recent red week. Bitcoin’s price had taken a plunge towards $40K and had brought a lot of losses with it as billions of dollars in long positions were liquidated on December 4th in one of the sharpest declines of the year. Mostly this has brought down a number of metrics associated with the asset but on-chain signals remain resistant. On-chain data all ranging from miner revenues, transaction fees, hashrate, and daily transaction volumes have all shown positive trends for bitcoin. None of this has been affected by the price decline. Related Reading | Number Of Bitcoin Lightning Network Nodes Jumps 23% In Three Months Hashrate Continues Recovery Trend Bitcoin hashrate had taken a big heat with the China crackdown on mining that took place earlier in the year. The region had gone from providing about 70% of the mining power to almost zero in a matter of weeks, leaving the hashrate to suffer greatly. This has since been rectified as bitcoin miners have found new locations to resume their mining activities. BTC hashrate recovers post-market crash | Source: Arcane Research Since then, hashrate has been gradually picking back up and in the past week saw a significant increase. Bitcoin hashrate is up for the past seven days after the first difficulty reduction following ten difficulty adjustments. As the difficulty has dropped, so has the profitability of mining activities increased. Given this, more miners have gotten back in the game and set up their mining rigs once more, leading to a rise in hashrate. Arcane Research also reported that this increased hashrate has led to an increase in block production rate. As more miners come back on board, an average of 6.46 blocks have been created each hour in the past week. This represents a significant increase of 11% in the same time frame. BTC loses footing at $50,000 | Source: BTCUSD on TradingView.com Bitcoin Transaction Fees Rise Bitcoin transactions fees have remained low through the past weeks, but there was a recorded increase in fees in the past seven days. On average, bitcoin transaction fees grew by 33%. This growth however does not do much for miner revenue. Even though fees are up, they are still relatively meager and only bring in about 1.7% of the total miner revenues. Related Reading | Majority Of Bitcoin Investors Got In This Year, Says Grayscale Average transaction value also jumped in the past week. As investors rushed to sell their holdings during the crash, the average transaction volume climbed by 8.3%. This was mostly due to holders who hold larger volumes moving their BTC to exchanges to sell, not only increasing average transaction volume, but also transaction fees at the same time. Bitcoin daily miner revenues in the first week of December was $52,271,223 compared to daily revenues of $49,975,895 from the previous week. Fees per day, as well as transactions per day, were up at $891,499 and 276,680 respectively. Featured image from PSU Watch, charts from Arcane Research and TradingView.com

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NFT Secondary Sales Surpass $15b amid Monthly Volume Constantly Topping $1b

The non-fungible tokens (NFTs) sector continues to take the world by storm based on the massive growth experienced. (Read More)

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Ethereum’s Transaction Volume Hits a 5-Month High

Despite Ethereum (ETH) correcting from the historic high of $4,860 attained recently, the second-largest cryptocurrency is still experiencing high transaction volume on its network. (Read More)

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Ethereum’s Median Transaction Volume Hits A Three-Year High of over $415

Not a day goes by in the cryptocurrency world without some intriguing metrics popping up. A lot of eyes are on Ethereum after the recent price surge to a fresh all-time how. The networks median transaction volume is spiking, and cumulative fees have surpassed $8 billion.  Ethereum Median Transaction Volume Rises There are many reasons […]

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Bitcoin’s Transaction Volume Hits a Four-Year High Yet The Reason Remains Unclear

The world’s leading cryptocurrency notes some rather impressive statistics once again. A four-year high in transaction volume is rather interesting. Contrary to popular belief, the miners are not responsible for this process, for a change.  A Transaction Volume High For Bitcoin Many people often wonder whether people transact value across the Bitcoin network. Statistics confirm […]

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Bitcoin Mean Transaction Volume Soars 370% from the 2019/20 Market Cycle

Transaction volumes involving big cash inflows into Bitcoin is on the rise while small transaction cash is reducing. (Read More)

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Bitcoin Transaction Volume Hits a Monthly High as Crypto Adoption Surged by Over 881% Last Year

Bitcoin experienced an uptick in transaction volume recently, given that it reached a 1-month high of 47,433.025 BTC. A research reflected global crypto adoption on the rise, boosted by P2P trading activites. (Read More)

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Bitcoin Records A New Transaction Volume All-Time High

Every day is a new day in the world of Bitcoin and other cryptocurrencies. As the BTC transaction volume hits a new all-time high, the future certainly looks promising. Moreover, over 87% of all Bitcoin addresses with balances are in profit at this time.  A New Bitcoin Transaction Volume High The world’s leading cryptocurrency has […]

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Aave Launches GHO Stablecoin on Ethereum Network

Aave, a prominent lending protocol within the decentralized finance (defi) sphere, has unveiled GHO, a new stablecoin, which is now live on the Ethereum network. Aave users can now mint the stablecoin asset by leveraging Aave version three (v3). Aave’s Dollar-Pegged GHO Token Goes Live on Ethereum This week, on July 14, 2023, Aave’s community [...]

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Large Ethereum Transactions Grow As ETH Breaks Yearly Highs

Ethereum (ETH) is making headlines as it trends toward the $4,100 mark, reaching a new yearly high of $4,096. This milestone, just $3 above the previous high set in March, signals a potential resurgence for the second-largest cryptocurrency by market capitalization. The price action has caught the attention of analysts and investors, particularly as Ethereum continues to outperform expectations in a market dominated by volatility and uncertainty. Related Reading: Dogecoin About To Enter Phase Of Explosive Growth Charts Reveal Massive Breakout Key metrics from IntoTheBlock shared by analyst Ali Martinez shed light on the network’s activity, revealing a surge in large Ethereum transactions. Historically, such increases in transaction volume have been linked to significant price movements, suggesting that Ethereums current uptrend could have more room to run. These developments hint at growing interest from institutional players and high-net-worth investors, further solidifying Ethereums position as a market leader. The next few weeks promise to be pivotal as Ethereum approaches the year’s end. Will it sustain its momentum and close the year with a breakout above $4,100? Or will it face resistance and retrace? With on-chain activity and market sentiment aligning in Ethereum’s favor, all eyes are on its next move as traders and investors position themselves for what could be an exciting close to 2024. Ethereum Transactions Surge With Price Ethereum continues to dominate market discussions after pushing to new yearly highs on Friday. The cryptocurrency surged past $4,096, surpassing its previous peak set in March. This upward momentum has reignited investor interest, but Ethereum’s price isnt the only thing on the riseits network activity is booming as well. According to data by analyst Ali Martinez (IntoTheBlock), large Ethereum transactions are experiencing a significant uptick. Martinez highlights that weekly transaction volume has skyrocketed by over 300%, reaching an impressive $17.15 billion yesterday. This surge in network activity signals increased confidence among institutional players and high-net-worth investors, who often precede retail adoption during major bull runs. Such growth in transaction volume historically correlates with sustained upward price movements, suggesting Ethereums rally may not be over. As the second-largest cryptocurrency by market cap, ETH appears well-positioned to continue setting new highs if these trends persist. Despite this optimism, ETH faces a key milestone aheadits all-time high of $4,878, set in November 2021, is still 20% away. While Ethereums recent breakout has invigorated bulls, analysts caution that reaching and sustaining prices near the ATH will require significant buy-side pressure and broader market strength. Related Reading: Cardano Whales Keep Buying Price Holds Above Crucial Mark If the current trajectory holds, Ethereum could approach its ATH sooner than expected, further solidifying its status as the go-to blockchain for decentralized applications and financial innovation. For now, investors are closely monitoring Ethereums price action and network data to gauge whether this rally has the momentum to break new ground or if a pullback is imminent. ETH Pushing Above $4k  Ethereum is currently trading at $3,960, showing resilience after reaching a local high of $4,096 just two days ago. This rally has brought Ethereum back into the spotlight, with investors eyeing key levels that could dictate its next move. A weekly close above the critical $4,000 mark would signal the highest weekly close for ETH since December 2021, a major milestone for the second-largest cryptocurrency. Such a close would reinforce the bullish sentiment surrounding Ethereum, potentially attracting more buy-side pressure and setting the stage for a continued rally toward its all-time high of $4,878. On the flip side, failure to achieve a weekly close above $3,880its previous highest weekly closecould indicate waning momentum. In this scenario, Ethereum may enter a consolidation phase as traders take profits and the market digests recent gains. Consolidation below this level would likely keep ETH range-bound in the near term, with $3,880 and $4,000 acting as pivotal resistance levels. Related Reading: Dogecoin Still In Consolidation Analyst Expects $0,63 If We Get A Breakout The next few days will be crucial as ETH navigates this critical juncture. A decisive weekly close will likely determine whether Ethereum extends its current rally or pauses to consolidate, offering traders opportunities and challenges in this dynamic market. Featured image from DALL-E, chart from TradingView

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Cardano Transactions Rise To Multi-Year Highs Metrics Support Bullish Outlook

Cardano (ADA) is trading above the critical $1 level, fueling optimism among investors anticipating further upside in the coming weeks. After a strong bullish run in recent weeks, the recent pullback appears to be a temporary pause in an upward trend. Crucial on-chain data supports this outlook, indicating robust network activity that reinforces the bullish [...]

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Cardano Outperforms Market With 50% Surge: Heres Why

Cardano has outperformed most of the market with a sharp 50% rally during the past week. Here’s what’s driving this run, according to on-chain data. Cardano On-Chain Metrics Have Lit Up Recently According to data from the on-chain analytics firm Santiment, a couple of activity-related metrics have spiked for ADA recently. The indicators in question are the Transaction Volume and the Whale Transaction Count. The first of these, the Transaction Volume, keeps track of the total amount of Cardano that’s becoming involved in transfers on the blockchain every day. This metric basically tells us whether the ADA investors have a high interest in trading the coin or not. Related Reading: Bitcoin Is About To See A Historically-Profitable Crossover In This Metric Whereas the Transaction Volume is a general metric, the Whale Transaction Count provides information about the activity level of only a specific investor group: the whales. As the metric’s name implies, it measures the total number of transfers that these humongous investors are making on the network. More formally, it specifically tracks the transactions carrying a value of more than $100,000. Now, here is a chart that shows the trend in the Transaction Volume and the Whale Transaction Count for Cardano over the last few months: As displayed in the above graph, both of these on-chain indicators have shot up for Cardano recently, which implies activity across the board has risen on the network. This recent spike in activity has coincided with ADA’s sharp rally, which has put the cryptocurrency at impressive gains of more than 50% over the past week. Given the timing, it’s likely that the increased interest from the investors has played a role in the price surge. At present, the weekly Transaction Volume for Cardano is sitting at around $52 billion, which is a 7-month high for the metric. Similarly, the Whale Transaction Count has a value of 8,900, the highest in 6 months. From the chart, it’s apparent that ADA also saw a simultaneous surge in these metrics back in June. This previously elevated level of activity led to a 26% increase for the coin. Related Reading: Bitcoin Hashrate Falls Off, Miners Expecting Pause In Bull Run? Something to note, however, is that this last activity spike occurred alongside a bottom for the coin, while the recent one has come as the asset has been rallying. The current high interest in Cardano could certainly act as more fuel for the rally, but it could also very well turn into a profit-taking storm as investors’ gains balloon up. It only remains to be seen which scenario would follow for ADA in the coming days. ADA Price With positive returns of 12% during the last 24 hours, Cardano is currently the best performer among the top cryptocurrencies by market cap. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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$19 trillion in transactions settled on the Bitcoin network in 2024

Bitcoin has a current market capitalization of roughly $1.9 trillion and surpassed silver's $1.6 trillion market cap in 2024.

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Litecoin Breaks $95 As Whale Transactions Spike

Litecoin has recently managed to break past the $95 mark as on-chain data shows the whales have become active on the network. Litecoin Has Surged After Spike In Whale Activity According to data from the on-chain analytics firm Santiment, the current whale activity is the highest it has been since January. The relevant indicator here is the “whale transaction count,” which measures the total number of transfers taking place on the Litecoin network that involve the movement of coins worth at least $100,000. Since such transactions are quite large in scale, generally only the whale entities are capable of making them. Thus, this indicator can provide us with an idea about the number of transfers that these humongous holders are making on the blockchain. Due to the sheer number of coins involved in each of these transfers, if a large amount of them take place at once, the market can register noticeable fluctuations. So, whenever the whale transaction count has a high value, the price of LTC becomes more probable to display volatility. On the other hand, when this metric has low values, the price may stay relatively calm, as it suggests that the whales aren’t making too many moves on the market right now. Now, here is a chart that shows the trend in the Litecoin whale transaction counts over the last six months or so: The value of the metric seems to have been quite high in recent days | Source: Santiment on Twitter As shown in the above graph, the Litecoin whale transaction count has observed a large spike recently. This means that whales have ramped up their transfer activity in the last couple of days. Related Reading: XRP Hype Spikes As Price Surges 12%, Is This A Top Signal? At the peak of this spike, the indicator had reached its highest level since January 26, 2023. These high values have come as the price has been going up, and since they have taken place, the uptrend has only continued further, with LTC managing to break past $95. Generally, when whales become active, the price volatility can go either way as the transaction count metric only tells us about the pure number of transfers happening on the chain and not about whether they are buying or selling moves. However, as the price has seemingly continued to rise following this latest spike, it may appear that the Litecoin whales could be supportive of the current uptrend. The chart also includes the data for the transaction volume, which is a measure of the daily total amount of LTC that is registering some movement on the blockchain. Related Reading: Bitcoin Price Faces Confluence of Bearish Factors And Could Decline Heavily This indicator has also seen a rapid increase recently, suggesting that users are moving around large amounts on the network currently. Such a trend is generally a sign of activity being high throughout the network and is often constructive for the price. This new surge in the price of Litecoin has come as the halving, an event where the coin’s block rewards will be permanently cut in half, is just a couple of months away now. LTC Price At the time of writing, Litecoin is trading around $95, up 9% in the last week. Looks like the asset has seen a rise recently | Source: LTCUSD on TradingView Featured image from Michael Förtsch on Unsplash.com, charts from TradingView.com, Santiment.net

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