Glimpses of positive momentum in an overall bearish market? Report
Look at different segments of the blockchain industry, they seem to react to events in the broader world. While one segment like nonfungible tokens (NFTs) could experience a sudden rise in interest and investment, other areas like decentralized finance (DeFi) may be slowing or stagnant. It is no different for the month of August, which saw positive signs, such as Bitcoin’s long-term-holder numbers nearly reaching its previous all-time high of over 13.6 million. Other segments, such as GameFi, experienced a 13.8% decrease in new users in the space from July.
It’s important for those involved in the blockchain industry to have a finger on the pulse of different areas of the market, and Cointelegraph Research’s latest Investor Insights analyzes key indicators from different sectors of the blockchain industry. Cointelegraph Research’s analyst looked at 10 segments in the blockchain space, including regulation, crypto mining, security tokens, Bitcoin (BTC) and Ether (ETH) derivatives, and venture capital activities.
Download and purchase this report on the Cointelegraph Research Terminal.
At the end of August, the supply held by long-term Bitcoin holders was 6,000 coins away from reaching its ATH of 13.61 million. Long-term-holder supply is the number of coins that have not moved in 155+ days. This amounts to 70.6% of the total outstanding supply and is the threshold at which the probability of selling and spending in the future diminishes.
Such a high number marks a very bullish signal, giving insight into the supply that may be on the market in the future. This is only one side of the supply-and-demand equation, however, and crypto does not act in a vacuum outside of overall macroeconomic conditions. As can be seen in the
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