- Warren, Elizabeth, shadowy, drugs - https://www.cnbc.com/2021/07/28/sen-elizabeth-warren-doubts-bitcoin-as-inflation-hedge-wants-tighter-regulation.html
- Estate - https://twitter.com/udiWertheimer/status/1420446224717684736
- XRP - https://www.coindesk.com/xrp-cheers-ripples-japan-philippines-corridor-as-bitcoin-breaks-above-40k-ahead-of-fed
While most top blockchains continue to struggle with an ongoing decline in daily network activity, Litecoin didn't seem to get the memo:
Despite a -13.8% drop in price, the amount of unique addresses interacting with LTC has grown by +47.5% over the last 10 days. Potential bullish divergence?
It's also worth noting that Litecoin's 365-day MVRV ratio is currently sitting at -39%, virtually the same level that marked the 2019/2020 bottom (respectively):
Historically speaking, there's still more room to the downside, but it'll be interesting to see if -40% gets confirmed as a de-facto 'bounceback' zone in days to come.
Oh, also, addresses holding 1k - 100k LTC have increased their holdings by 270,000 LTC (~$30m) since the start of the month:
Still early to tell, but I'd keep an eye on Litecoin's daily addresses this week. If the growth proves sustainable, it would be a rare example of network strength among crypto's top caps.
- #BinanceFutures, #ResponsibleTrading - https://twitter.com/binance/status/1414524178884009984
- Seed, phrase - https://www.reddit.com/r/CryptoCurrency/comments/oip4mi/if_you_want_to_join_me_in_watching_metamask/
- Netflix - https://twitter.com/CryptoCobain/status/1414716228862685188
I recently did a quick market health checkup on Ethereum, which you can check out here. Now, as Bitcoin continues to bore people to tears as it ranges between $31k and $36k for the fourth straight week, let's see what our key metrics are saying:
% Supply on Exchanges
Bitcoin's supply on exchanges continues declining, which diminishes the risk of another major selloff.
Weighted Social Sentiment (Twitter)
The crowd sentiment toward Bitcoin, which means buying against the crowd can be profitable.
Average 30-day returns (a useful combo timeframe for both short and mid-term trading) are -4.32%, which essentially means average traders are about even.
Bitmex Funding Rate
The perpetual contract funding rate has come back up to even after the excess shorting that had been frequent.
Bitcoin's circulation vs. its market cap has been... awful so far in July. Be careful with a 5th straight month looking like it will end in the red.
- MOONs, MOON, karma - https://www.reddit.com/r/CryptoCurrency/comments/ofss7k/new_moons_distribution_round_15_proposal/
- Visa, card - https://www.cnbc.com/2021/07/07/visa-says-crypto-linked-card-usage-tops-1-billion-in-first-half-of-2021.html
- UFC - https://sports.yahoo.com/ufc-inks-175-million-crypto-104559159.html