Glassnode

The third #Bitcoin "valley of loss" closes, as $BTC hovers around $19,000 in this bull market.

All long-term holders (who currently own 75% of the BTC supply) are now in a state of profit.

Once more, hodling and a low time preference paid off.

Live chart | @glassnode

Around 10% of the #Bitcoin supply was moved at a price above $18,000.

Many investors are valuing BTC above this level, which may indicate their conviction for further $BTC price appreciation.

In contrast: In 2017 at ATH this number was only 2%.

Live chart | @glassnode

12.9% of the circulating #Bitcoin supply (2.4M BTC) is currently held in exchange wallets – down from 16% at the beginning of the year.

According to our data, the largest holders are:

Coinbase: 4.9%
Binance: 1.6%
Huobi: 1.1%
OKEx: 1.1%

Live chart | @glassnode

On-chain metrics show that older #Bitcoin are being sold as $BTC's price increases. This indicates that long-term holders are realizing profits.

But while this might seem alarming, this trend has historically been extremely bullish.

Read more | #Insights

In November, a total of $126 billion USD were settled on the #Bitcoin blockchain.

This amounts to a total volume of 7.7 million $BTC changing hands last month.

Live chart | @glassnode

Almost 19.6 million #Bitcoin addresses were active in November sending or receiving $BTC.

That is the third-highest value in Bitcoin's history – only topped in December 2017 and January 2018.

Live chart | @glassnode

#Ethereum 2.0 (Beacon Chain) is ought to launch in less than an hour.

880,000 #ETH have been staked to date. Around 355,000 more than the minimum amount required.

Live chart | @glassnode

After a rather tumultuous week, $BTC and the rest of the crypto market appear to be recovering, with #Bitcoin rallying to break its all-time high and quickly approaching $20k.

Read more | #TheWeekOnChain

100% of the circulating #Bitcoin supply is in profit.

Live chart | @glassnode

#Bitcoin mining difficulty increased by 8.9% today.

It is the second positive adjustment in a row, and has recovered most of the large drop we saw early this month.

Mining difficulty is now only 4.4% below its ATH.

Live chart | @glassnode

Since yesterday's announcement from #OKEx to resume withdrawals, we have seen an outflow of 29,300 $BTC from the exchange.

In the same time period 21,600 BTC have been deposited, reducing the exchange's balance to ~212k BTC.

#Bitcoin

Live chart | @glassnode

The number of #Bitcoin whales (entities holding at least 1,000 $BTC) has reached a new ATH after more than 4 years.

An entity is a cluster of network addresses controlled by the same individual/institution.

Live chart | @glassnode

#Bitcoin futures open interest on #Binance hits all-time high (~$1.17B)

Live chart | @glassnode

$BTC less than 4% away from the previous ATH

Live chart | @glassnode

#Ethereum 2.0 deposit contract stats

- Total value staked: 423,200 ETH
- Validators: 12,575
- Phase 0 staking goal: 80.7%

Still 12 hours left to reach the goal of 524,288 ETH required to launch the Beacon Chain on Dec 1st.

Live chart | @glassnode

With prices exceeding $18,000 for the first time since 2017, $BTC looks poised to break its previous all-time high.

Meanwhile, plummeting #Bitcoin exchange balances support the narrative that investors intend to hodl.

Read more | #TheWeekOnChain

#Bitcoin funding rates on major exchanges have increased considerably over the past few days.

Long positions are heavily paying shorts – potentially incentivizing more traders to start taking the other side.

Live chart | @glassnode

Around 80,000 ETH have been desposited to the #Ethereum 2.0 contract in the past 30 hours.

More than 6,000 validators have staked a total of 193,500 $ETH to date.

That amounts to ~37% of the phase 0 staking goal.

Live chart | @glassnode

#Bitcoin liquidity continues its downward trajectory.

YTD balance on exchanges: -18%

Live chart | @glassnode