0xdawg serving dinner: SNX Coinbase pump could be smelled from afar
Perhaps you fancy yourself an experienced trader. OK, then maybe this insight is not for you. If you instead approach life as an eternal student, maybe you can learn something here: because (in hindsight at least) SNX could have been entered even without knowing that Coinbase specifically was coming:
A significant spike in Daily Active Addresses and Dormant Circulation overlapped on Dec. 11th. Whether this signalled the first time info about the Coinbase Pro listing leaked we will probably never know. What is clear however is that "Twin Peaks" in Daily Activity and activity from dormant tokens are powerful growth indicators (see below). When looking at 12. July we see another occurrence of this Twin Peak phenomenon which can signal "Belief" coming back to the network.
Another metric often consulted is MVRV (7d). IN this case however, the "Twin Peak" is more useful as it is more visible in the chart, compared to an MVRV reversal: