On-Chain Metrics for BTC and ETH Suggest Dormancy Shows Data

The blockchain analytics firm glassnode alerts posted a series of tweets related to the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), this morning. In their first tweet today, glassnode alerts highlighted that the ETH Amount of Supply last Active 5y-7y just reached a 9-month high.

ETH Amount of Supply Last Active 5y-7y (Source: Glassnode)
ETH Amount of Supply Last Active 5y-7y (Source: Glassnode)

Glassnode alert’s tweet shows that ETH’s Amount of Supply Last Active 5y-7y currently stands at around 10,575,650.450 ETH. This isn’t the only on-chain metric for ETH that the analytics platform tweeted about this morning. In a second tweet, glassnode alerts shared that the Mean Block Size (7d MA) for ETH reached a 1-month low of 103,311.244 as well.

BTC Percent Supply Last Active 3+ Years (Source: Glassnode)
BTC Percent Supply Last Active 3+ Years (Source: Glassnode)

With regards to the market leader, Bitcoin (BTC), glassnode alerts shared that the Percent Supply Last Active 3+ Years for BTC recently reached an all-time high (ATH). According to the tweet, BTC’s Percent Supply Last Active 3+ Years is currently around 39.830%.

CoinMarketCap indicates that BTC is currently trading hands at $29,295.11 after setting a daily high of $29,411.23. The market leader is, however, still up by more than 6% over the last seven days.

With regards to ETH, the leading altcoin is currently trading in the green. At press time, ETH is worth about $1,903.74 after a 0.10% price increase over the last day. The altcoin’s weekly performance is also looking good as ETH is up more than 2% over the last seven days.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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