Analytics / Forex and Crypto News
Despite price volatility, Bitcoin is showing positive results for investors. Over the past week, Bitcoin's capitalization increased by 17%, the number of addresses increased by 12.2% on the network and amounted to 928K. However, the largest increase was shown in transaction fees. It grew by 170%, which indicates an incredibly high demand within the network.
On May 3, the income of miners reached the level of $19.63 million on the charts. In turn, this led to an increase in the ratio of commission to revenue of BTC. Weekly growth was 6%, which is the highest level since June 2019. This ratio between commission fees and BTC revenue indicates a recovery in the market.
It is also worth noting the increase in the ratio of market capitalization to realized capitalization (it takes into account only really circulating Bitcoins). This ratio is often used to determine the tops and the bottom of the market. The current ratio suggests that market capitalization is greater than the realized value in the cryptocurrency ecosystem. That is, Bitcoin is becoming more attractive to investors from outside.
Another indicator, the price-earnings ratio (which is the equivalent of the NVT ratio) also shows growth. This indicator indicates that the cost of the network exceeds the total amount of value transmitted through the payment network. Simply put, this is the ratio of Bitcoin's market capitalization to the daily volume of transactions (or investment flow) in the network, measured in dollars. NVT helps traders evaluate the value of Bitcoin.
This occurs during periods of rapid growth, when investors see Bitcoin as a very profitable investment, or when a price bubble forms.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov