Dear bulls and dear bears,
We have something for each of you, to support your take on the market.
We are seeing some patterns emerging now, for example on Lido:
It's in the process of building the top, in the final stage of divergences. Divergence in network activity and in network growth:
Price remains on top, however active addresses and network growth are down.
This is usually a bearish sign, a well known pattern.
Building a top can take time. You never know the timing of top building. No one knows.
The good news is MVRV is not over. It's below dangerous 'overbought' level for a number of assets. Examples below.
We could also assume that some tokens are done, some not yet. We'll see it soon.
As we've done in previous weeks, we're continuing to keep an eye on which projects are seeing notable movement from their respective whale addresses. Watching which assets are seeing a growing amount of addresses worth $100,000 or more can give a great indication into future price pumps and dumps.
Below, we've listed three projects with notable rises in whale numbers, as well as three with notable drops:
⬆️ Increasing Number of Whale Address
⬇️ Decreasing Number of Whale Address
Yearn Finance ($YFI)
The total value of assets locked in Uniswap has plummeted by 38% in 24 hours amid the conclusion of its UNI liquidity rewards program on November 17th.
Meanwhile, “vampire” clone SushiSwap has doubled its TVL and is aggressively pursuing additional liquidity. Details.
And the same time Bancor is making a move announcing proposal for BNT liquidity mining.
This is what you see on top, Total Value Lock jumps for all three tokens:
Prices of UNI, SUSHI and BNT sharing an uptrend:
Social volumes are increasing only for SUSHI:
Onchain activity measured in Daily Active Addresses and Network Growth increased for all three tokens last days:
And Realized Network Profit/Loss showing painful losses all the way for UNI, SUSHI and BNT. Last string of pain - Bancor on November 15th:
All the above metrics are available for PRO members on a single chart layout.
Be sure to switch 'shared axis' on and off to compare absolute values.
sushi - https://cointelegraph.com/news/defi-project-sushi-gets-new-master-chef-in-an-unprecedented-move
bnsd - https://medium.com/bitbns/announcment-28-bnsd-on-bitbns-2d6adea3e334
tether - https://www.reddit.com/r/btc/comments/inp7yp/tether_usdt_has_printed_over_14_billion_dollars/g49o3kc/
Details on eth, gas, fees, defi - https://insights.santiment.net/read/ethereum-fees-in-usd-break-ath-again-5974