Bitcoin
BTC$57 249.71

-1.30%

Ethereum
ETH$3 068.42

-1.69%

Tether
USDT$0.999955

-0.01%

Binance Coin
BNB$519.11

-2.01%

Solana
SOL$136.30

-3.78%

USD Coin
USDC$0.999887

-0.01%

Exchange Activity Explodes Following Bitcoin’s $10K Breakout


28 Jul 2020

#Bitcoin

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.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 70% 54 $57 249.71 -1.30% 5.51% $1 128 965 217 766 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.6% 44 $3 068.42 -1.69% 6.70% $368 858 212 080 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.999955 -0.01% 0.02% $112 254 763 150 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 76% 48 $519.11 -2.01% 10.75% $76 612 231 206 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 80% 32 $136.30 -3.78% 8.15% $63 237 582 576 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.2% 2 $0.999887 -0.01% -0.01% $33 973 012 586 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 76.4% 40 $0.463312 3.77% 14.09% $25 855 292 412 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 84.4% 23 $7.30 2.00% 10.56% $18 295 734 723 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 72.4% 53 $0.105334 -3.66% 8.35% $15 282 184 060 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 82% 32 $0.399814 1.83% 20.69% $14 344 205 229 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 81.2% 33 $0.135897 1.12% 11.14% $11 841 337 472 TRX 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 96% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 94% 2 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 71.2% 56 $24.98 -2.91% 7.15% $9 850 303 701 AVAX 7 days price change

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