Bitcoin

Glassnode, a source of blockchain analytics, reports that 30-day capital flows for cryptocurrencies are once again positive.Also, for the first time since April 2022, the overall market realized value net position is back in the black.This statistic has been in the red for the last nine months or so as more money left the crypto markets than entered them.The value of the cryptocurrency market has grown by 36% since the year 2023. Around $300 billion has returned to space as a result of this.Markets are still 63% behind their peak levels from November 2021, when overall market capitalization exceeded $3 trillion.By Glassnode, Aggregate Market Realized Value Net Position Change ChartThe fact that the number of Bitcoin whales has reached a three-year low is another encouraging statistic. This indicates that the asset is now more evenly dispersed rather than being concentrated around a small number of whale wallets.A wider distribution of assets benefits the entire ecosystem since it eliminates the threat of market manipulation by a few power brokers.Glassnode also noted on February 27 that the percentage of the Bitcoin supply that is now active has recently surpassed an all-time high of 28.2%. This demonstrates that, despite the weak market, adoption and network usage have been rising continuously.The macroeconomic problems are still looming, and global authorities are on the attack, so the bullishness in cryptocurrencies comes at a bad moment.There have been discussions of the IMF outright banning it (International Monetary Fund). Meanwhile, SEC Gary Gensler has maintained his belief that, with the exception of BTC, all cryptos are securities.If China is any indication, a ban on something won&#39;t prevent people from desiring or obtaining it. Politicians and bankers may crack down further, which might increase the value of cryptocurrency. There will always be nations with an eye toward the future that are accessible to the market and resources.During the Asian trading session on this Monday morning, markets are up. At the time of publication, total capitalization had increased 1.8% for the day to $1.13 trillion.The majority of high-cap assets, however, have been trading in a range for the majority of this month.At the time of writing, Bitcoin (BTC) had risen 1.4% to $23,557. Ethereum (ETH) was trading at $1,640, up 2.3% on the day.

30-Day Crypto Capital Flows Return to Positive Levels

ItsBitcoinWorld

Andre artikler udgivet 27. feb. 2023

Function X Introduces an Exclusive Card for Hardware Wallets

Uquid and Floki: A Partnership Announcement

First Mover Asia: Solana in the Green After Weekend Deep Freeze

The Cycle of Market Emotions

How to Use Etherscan

Latest Update on $GOAL Official Launch

Join our free newsletter for daily crypto updates!