Exchange Activity Explodes Following Bitcoin’s $10K Breakout
On-chain exchange activity exploded during Bitcoin’s recent breakout, seemingly confirming the legitimacy of the price momentum. Bitcoin’s (BTC) recent breakout was accompanied by a massive spike in on-chain exchange volume activity, according to data from Glassnode.
Unlike regular trading volume that is often artificially inflated by the exchanges, on-chain activity may be more indicative of the true patterns. Interestingly, the only metric that experienced a downward trend is the number of exchange deposits. This may be a bullish sign in its own right.
700% growth in DAI/USDT
The data for the previous week indicates a major spike in off-chain trading volume as well. For instance, the BTC/USD pair saw a 70% increase in its biggest bounce since April; DAI/USDT spiked by over 700% in the same time period.
Bloomberg believes that the fundamentals indicate that Bitcoin will surpass $12,000 this year, if not higher. With the massive push coming over the last 24 hours, some began to speculate whether Bitcoin can break its all-time high of $20,000.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 71.2% | 55 | $42 499.74 | -1.69% | 3.90% | $804 612 153 299 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 67.2% | 67 | $3 240.18 | -3.24% | 7.66% | $386 221 666 258 |  |
|
| 3 |  BNB |
Binance Coin predictions | 71.2% | 55 | $471.64 | -5.87% | 13.52% | $78 669 453 462 |  |
|
| 4 |  USDT |
Tether predictions | 93.6% | 1 | $1.000291 | -0.01% | 0.01% | $78 422 379 350 |  |
|
| 5 |  ADA |
Cardano predictions | 74.8% | 53 | $1.48 | 4.97% | 33.24% | $49 641 760 562 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.8% | 1 | $0.999982 | 0.02% | -0.02% | $45 408 574 979 |  |
|
| 7 |  SOL |
Solana predictions | 60.4% | 78 | $142.41 | -5.01% | 7.28% | $44 738 935 131 |  |
|
| 8 |  XRP |
XRP predictions | 71.2% | 58 | $0.760679 | -2.17% | 5.13% | $36 256 323 649 |  |
|
| 9 |  LUNA |
Terra predictions | 71.6% | 59 | $80.99 | -5.64% | 18.07% | $29 003 031 725 |  |
|
| 10 |  DOT |
Polkadot predictions | 75.6% | 53 | $26.06 | -6.24% | 12.03% | $25 733 903 487 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 75.2% | 46 | $0.168009 | -5.80% | 17.84% | $22 289 819 399 |  |
|
| 12 |  AVAX |
Avalanche predictions | 65.6% | 76 | $88.17 | -6.02% | 6.34% | $21 545 510 909 |  |
|
| 13 |  MATIC |
Polygon predictions | 70.8% | 54 | $2.27 | -2.65% | 14.59% | $16 595 998 407 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 72.8% | 59 | $0.000029 | -5.71% | 7.80% | $15 821 241 817 |  |
|
| 15 |  BUSD |
Binance USD predictions | 94% | 1 | $1.000713 | 0.14% | -0.01% | $14 457 507 802 |  |
