MATIC's on another all-time high binge, so here are 4 quick metrics to watch:
1) Daily active addresses look very choppy - isolated spikes around local pumps, possibly a signal of increased sell-offs:
Unless we see a sustained uptick in address activity, we may expect volatile PA and a quick-fire correction with every new ATH push.
2) Daily deposits confirm the above - latest two price tops were marked by a clear uptick in deposits. These indicate rising sell-offs that may obstruct the rally:
3) Network Profit/Loss had a massive spike right as MATIC hit new ATH, suggesting significant profit-taking activity. Keep an eye on these if MATIC rallies once more:
4) Finally, last two price tops were marked with upticks in MATIC-related chatter, as the social sentiment hit 'peak hype'. This should be a good gauge of retail fear/greed as (or if) MATIC continues to pump:
Stay safe out there!
Some of the largest DeFi tokens are experiencing quite the uptick in unique addresses activity over the past few days:
- AAVE's daily active addresses are up +24.1% since Monday.
- MKR's daily active addresses are up +97% since Monday.
- UNI's daily active addresses are up +72.5% since Monday.
- COMP's daily active addresses are up +72.8% since Monday.
Could this be the start of a new demand wave for DeFi?
It's still (way) too early to tell, but I'd keep an eye on these charts in the coming days. A sustained rise in address activity may be an early signal of growing network confidence and a possible 'return to form' for DeFi's blue chips.
Still a long way to go, but a decent start!
AAVE, like most of the market, has returned to bull mode.
TL,DR: Coinlist activates AAVE trading on Monday 19th. Whales reloaded 6 days earlier. Most aggressive jump in whale activity in 6 months. MVRV Z-score breaks downtrend. Accumulation reignited. Other lending protocols see silent accumulation.
NVT (in volume) spikes during the consolidation phase since February provided good buying opportunities.
This particular whale probably acted on fundamental grounds:
March has been a rollercoaster for LINK Marines, as Chainlink's price fluctuated between $26 and $32 after its late February all-time high of ~$36.83. Let's see how some of its key metrics are looking:
Supply Help by Top 10 Exchange and Non-Exchange Addresses
The top 10 non-exchange LINK holders are holding around 2021-high levels, an encouraging sign. In the same respect, the top 10 exchange LINK holders the lowest amount since November, 2017. This lack of tokens available to sell off is also promising.
Weighted Social Sentiment
LINK is not having a major amount of discussion, and this is actually a good thing. Our studies prove that assets are more likely to rise when crowd discussion is dormant.
Daily Active Addresses & Deposits
Address activity has been declining, but at least deposits are also on the decline.
Whale Supply Distribution
The amount of whale holders with at least 10k $LINK continues to decline, a less than promising indication.
This week continues a series of Discussion threads in Insights.
A question today is:
How do you discover hot new DeFi tokens?
Any comment is good.
Watching the DeFi liquidity for a long time, one could notice an initially stable growth of $AMPL token. But recently, the token has been steadily going down, as can be seen in this graph:
This fall is due to the growth of Circulation, which is inversely proportional to the token price:
Also, it is noticeable by increasing the number of holders in Holder Distribution:
It is quite probable that in the nearest future this token should not be used for purchase and investment in liquidity.