Santiment's NVT Token Circulation model continues to be an effective way to keep tabs on how healthy the circulation rate of tokens are for various crypto assets. As market caps rise, it takes more and more unique tokens moving from address to address to justify future price rises. Check out our write-up on how it works!
Here is a look at where each chart currently stands, with green bars indicating the most bullish signals, and red signaling the most bearish:
Bitcoin's NVT chart continues indicating a 'semi-bullish signal for a 5th straight month, with the past two days particularly being very bullish following its new all-time high.
Ethereum has outpaced Bitcoin percentage-wise thus far in 2021, and for good reason. February is the 10th straight month of a green bullish signal.
Chainlink's all-time high was eclipsed yesterday, and its token circulation level is showing as bullish for the 13th straight month.
Token Age Consumed has been a steadfast metric our community has relied upon to spot mid to long-term price direction reversals. This extremely useful Santiment metric reveals the amount of tokens changing addresses, multiplied by the time since they last moved.
This metric is often used to spot local tops, but it can also be used to see signs of dormant tokens moving with the intention of pushing UP prices. Some examples of some recent spikes on this metric are given in the following assets below:
Chainlink's pattern of Friday age consumed spikes continued with its largest occurring a couple days ago. Be careful with one occurring at a local top.
Kyber Network ($KNC)
Kyber Network is seeing the beginnings of a rebound, and some major dormant token movement appears to be supporting it!
Without an age consumed spike supporting 0x's price rebound, we're a bit pessimistic about a higher high.
double, spend, btc, fud - https://twitter.com/LucasNuzzi/status/1352325295999754241?s=09