On-Chain Forensics

On-Chain Forensics 26

In today’s report, we will be analysing the On-Chain Metrics for Ethereum. Key Points: The Exchange Net Position Change shows that the market has been in a large accumulation phase which came to a close. We saw a spike in ETH accumulation coinciding with the approach towards ATH prices, indicating some form of panic buying. If the trend of accumulation continues it will indicate a new accumulation phase based on strength. From May 2021 onwards, there has been a steady accumulation of more ETH from investors with signifcant holdings (>32ETH). The Funding Rate has seen a continued increase. Such increases have indicated violent corrections in the past few months and is something to keep an eye on if you have any kind of leveraged exposure. Whales are potentially looking to add to their holdings on price confirmations. The market looks to be over-extended without having had any real pullbacks or consolidation, as implied by the increasing positive Funding Rates. This […]

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