Glassnode: Ethereum market cap will surpass Bitcoin?
Editor's Note: This article comes fromCrypto Valley Live (ID: cryptovalley), Author: LIESL EICHHOLZ, Translation: Sherrie, reproduced by Odaily with authorization.
Editor's Note: This article comes from , Author: LIESL EICHHOLZ, Translation: Sherrie, reproduced by Odaily with authorization. secondary title Bitcoin and other markets fell suddenly on Monday morning (European time), with Bitcoin falling more than 10% in just 2 hours. It bounced back quickly, recovering most of its value as eager investors snapped up, but has since continued to fall, dropping below $32,000. secondary title At its peak last week, more than 1.3 million bitcoin addresses were active in a single day. This continued growth demonstrates the impressive level of new adoption and activity for Bitcoin, and suggests that the number of market participants in the network may be higher than ever. secondary title bear market While on-chain indicators remain macro-bullish, this extreme profit-taking suggests that some sort of pullback may be on the horizon. Upbeat review by Willy Woo Bullish capital flows continue to be strong, keeping speculative price premiums above estimated fundamental valuations in check. The rally, while heating up, is no stronger than the rally in late November last year, when gold broke through $17,000 and quickly consolidated and continued to rise. At the same time, investors are strongly buying into this all-time high given the short-term investment flows taking place on spot exchanges. Altcoin Features: Maker's Return and Bull Run However, after hitting that high, it retreated quickly, losing more than a third of its value in less than 24 hours. image description As demand for DAI grows rapidly, so does the price of MKR (Glassnode Studio)Bitcoin Market Health
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Upbeat review by Willy Woo
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MKR (MakerDAO’s native governance token) has lagged behind the DeFi token market over the past year, failing to achieve significant price gains, but in the last week, MKR (MakerDAO’s native governance token) suddenly rose from $600 The following surged to an all-time high of $1,973.29 reached earlier Sunday.
