Market Pulse Cycle Top/Bottom Detection: Utilizing Drilling Concepts in On-chain Analysis In this Market Pulse, we leverage principles used in Bitcoin behavioural analysis to develop a framework analogous to Measurement While Drilling (MWD) methods. The goal of this framework is to measure investors' resilience to price volatility, and develop a cycle extreme detection model.
Analysis & Research A Challenging Bear Market The 2022 bear market has been exceptionally challening for digital asset investors, with Bitcoin and Ethereum down 75% to 85% from the ATHs. In this report, we explore the mechanics and performance of BTC, ETH and the wider digital asset ecosystem in 2022.
Analysis & Research A Bear of Historic Proportions 2022 has been a tough year for Bitcoin and Ethereum, with valuations being hit hard and fast. With the extensive duration , and scale of capital destruction of the prevailing, it can reasonably be argued that 2022 is the most significant bear market in digital asset history.
Analysis & Research Exchanges on the Road to SegWit Adoption: on Pioneers, Stragglers and Holdouts We take the recent release of Taproot as opportunity to investigate ways to measure the adoption of SegWit-related Bitcoin improvements in a meaningful way; simultaneously, we put a spotlight on exchanges and their SegWit adoption.
Analysis & Research A New Experiment in Cumulative Destruction Introducing the Value of Coin-days Destroyed Multiple, a metric that uses investor spending patterns to identify overheated and undervalued markets.
Analysis & Research Following the Smart Money: A Study of Long-Term Holders A deep dive analysis into the market psychology and fractals associated with Bitcoin Long-Term Holders.
Analysis & Research Surveying the May 2021 Sell-off After one of the most dramatic sell-offs in Bitcoin history, the conviction of investors has been put to the test, and we assess the markets response on-chain.
Analysis & Research Bitcoin's On-chain Market Cycles All market cycles are unique, but the human response to profit, loss and incentives can be strangely predictable. The trick is knowing what to look for in the data, on-chain.
Product Bitcoin On-Chain Exchange Metrics: The Good, The Bad, The Ugly In the present work, we give insights into the importance of analyzing exchange activity, the processes of accurately tracking exchange addresses, and the caveats that come with exchange data.
Analysis & Research Featured No, Bitcoin Ownership is not Highly Concentrated – But Whales are Accumulating We analyze the distribution of Bitcoin across network participants, and show that BTC ownership disperses over time and is much less concentrated than often reported. Meanwhile, BTC supply held by whales has recently increased, suggesting institutional investors are entering.
Analysis & Research 78% of the Bitcoin Supply is Not Liquid Quantifying the amount of liquid and illiquid BTC supply and its relationship to Bitcoin's price.
Analysis & Research Long-Term Holders Are Selling BTC: Why This Is A Bullish Signal On-chain metrics show that older coins are being sold as BTC's price increases, indicating that long-term holders are realizing profits. But while this might seem alarming, this trend has historically been extremely bullish.
Product Featured Quantifying Short-Term and Long-Term Holder Bitcoin Supply We introduce a new methodology to classify Bitcoin supply owned by long-term investors and short-term traders, and create a set of on-chain metrics that show when these two investor types are in a state of profit or loss.
Analysis & Research Filecoin’s Economic Failure: Are Miners Really On Strike? The long-awaited Filecoin network has finally launched. But immediately after its arrival, there are already claims of a miner strike and failed economic model, amid other controversies.
Analysis & Research Special Guest Report: In The Network (Bitcoin Q2 2020) In The Network by Formal Verification is an on-chain exploration into the current state of the Bitcoin network and its surrounding ecosystem using a multitude of both established and exotic metrics.
Analysis & Research New Bitcoin Whales: Where Are They Coming From? Bitcoin's whale population is on the rise for the first time since 2016. Where are these whales coming from, and are they hoarding more BTC than ever?
Analysis & Research Miners Hodling: BTC Flowing from Miners to Exchanges Reaches 1-Year Low Miners appear to be hodling BTC after the recent halving. However, this does not represent bullish sentiment, but rather an inability to recover costs at current prices.
Analysis & Research Bitcoin Investors' Exodus from Major Exchanges Continues The number of BTC on exchanges continues to decline, reaching its lowest point in over a year. We analyze potential explanations for this exodus.
Analysis & Research Bitcoin Hash Rate Declines After Halving Slashes Miner Revenue After recovering to pre-crash levels, Bitcoin's hash rate has declined once again following the block reward halving and the decrease in miner revenue.
Analysis & Research Buying the Dip: Investors Accumulate and Hodl Before Bitcoin's Halving On-chain metrics suggest that investors are feeling optimistic in the weeks leading up to Bitcoin's third halving.
Analysis & Research Safe Haven: Bitcoin Sees Influx of Retail Interest Bitcoin and other cryptocurrencies are experiencing a rise in popularity as investors seek a safe haven in anticipation of the looming economic crisis.
Analysis & Research The Rise of Binance Visualized On-Chain Using on-chain data, we take a deeper look into the rise of Binance. Since its launch, it has experienced a meteoric rise, becoming the top exchange in the world in terms of reported trading volume.
Analysis & Research Introducing Account-Based On-Chain Metrics for Bitcoin and Ethereum Effectively mapping UTXO-based on-chain metrics to improved account-based versions for Bitcoin and Ethereum.
Analysis & Research The Number of BTC On Exchanges Is Down Almost 7% Following the recent price crash, the balance of BTC on exchanges has decreased by almost 7%, despite unusually large exchange deposits.
Analysis & Research Bitcoin Sees Largest Ever Decrease In Absolute Hashing Power Bitcoin's difficulty is set to experience one of its largest ever decreases as hashing power leaves the network. How will BTC respond to this?
