Cryptocurrency market leader Bitcoin (BTC) has recently seen two of its on-chain metrics reach new heights. The on-chain analysis platform glassnode alerted via Twitter this morning that the Amount of Supply Last Active 2y-3y (1d MA) for the crypto king had soared to a 2-year high of 2,675,323.424 BTC. Also, BTC's NVT Ratio (7d MA) had reached a 1-month high of 1,625.697. CoinMarketCap data shows that although BTC dropped 1.03% in the last 24 hours, it has managed to strengthen against Ethereum (ETH) by 0.49%. BTC's weekly performance is currently in the red, experiencing an 8% dip over the past seven days and boasting a trading volume of $14,258,856,974. The currency's market cap is now at $531,670,140,785 and its market dominance has seen a 0.09% increase in the last 24 hours. These new highs have come off the back of continued acceptance and adoption of Bitcoin, with investors attracted to its value proposition and digital security. Moving forward, it will be interesting to see how Bitcoin's on-chain metrics evolve and where the crypto's market cap heads next.
Ethan Garcia
- 2023-04-24
Bitcoin On-Chain at New Highs
Bitcoin (BTC) has recently seen two of its on-chain metrics reach new heights. The Amount of Supply Last Active 2y-3y (1d MA) for the crypto king had soared to a 2-year high of 2,675,323.424 BTC and BTC's NVT Ratio (7d MA) had reached a 1-month high of 1,625.697. CoinMarketCap data shows that BTC has managed to strengthen against Ethereum (ETH) and its market dominance has seen a 0.09% increase in the last 24 hours.
