• Short-term Bitcoin investors are taking profit after the recent pump according to Glassnode.
• On-chain analysis reveals certain short-term holders are selling into the rally while they can.
• Glassnode’s latest report reviews recent on-chain behavior of both short and long-term holders.
The recent surge in the price of Bitcoin has been welcomed by many in the crypto space, but some investors may be taking advantage of the rally to make a quick profit. According to Glassnode, a blockchain intelligence provider, certain short-term holders are taking advantage of the price increase to sell their holdings.
Glassnode’s latest report reviews recent on-chain behavior of both short and long-term holders. The report begins by examining Bitcoin’s price, which has reclaimed “multiple on-chain pricing models.” One of these models is the investor price, which reflects the average acquisition price for all coins spent and distributed by Bitcoin miners.
The report then goes on to analyze the behavior of short-term holders. According to their findings, short-term holders are selling into the Bitcoin rally in order to take profit while they can. This can be seen in the behavior of investors who have held their coins for less than one month. These investors have been selling their coins at more than the average acquisition price, which indicates that they are taking profit while they can.
The report also examines the behavior of long-term holders. According to Glassnode, this group has not been selling as much as short-term holders. Long-term holders have been holding onto their coins and are not taking advantage of the current price surge.
Overall, Glassnode’s report provides an interesting insight into the on-chain behavior of both short and long-term holders. It appears that short-term holders are taking advantage of the surge in Bitcoin’s price to take profit while they can, while long-term holders are holding onto their coins. This indicates that the recent surge in Bitcoin’s price could be a sign of a more sustained rally in the future.
• CoinFLEX has attempted to clarify the story behind its new exchange, tentatively named GTX.
• The exchange would specialize in crypto bankruptcy cases and have the leadership of CoinFLEX and 3AC onboard.
• After being met with derision, CoinFLEX leadership wanted to give the crypto market another shot by setting the record straight.
CoinFLEX, a crypto derivatives exchange, and 3AC, a venture capital firm, recently attempted to give the crypto market another shot by setting the record straight on the story behind their new exchange, tentatively named GTX. According to CoinFLEX leadership, “there has been media speculation” on the subject of the new exchange they were building, which would specialize in crypto bankruptcy cases.
In an effort to counter the “speculation” on the subject of the leaked GTX pitch decks, CoinFLEX leadership assured users that both Mark Lamb and Sudhu Arumugam would be staying onboard in their respective leadership roles. Lamb is the CEO and founder of CoinFLEX, while Arumugam is the founder of 3AC. Additionally, CoinFLEX leadership noted that the exchange would be “built to the highest standards” and that the “integrity of the marketplace” would be of utmost importance.
The exchange would also feature “specialty products” such as “Smart Contracts for Order Management (SCOM) and margin trading,” as well as “secure storage solutions” and “advanced order types.” According to CoinFLEX, these features would provide “a secure, transparent and fair trading environment” for all users. Furthermore, the exchange would also provide a “robust API” that would allow developers to “build and deploy new products and services.”
CoinFLEX’s attempt to give the crypto market another shot was met with both praise and criticism. While some appreciated the transparency of the exchange, others felt that the exchange’s focus on crypto bankruptcy cases was a “risky” move. Ultimately, only time will tell if CoinFLEX’s initiative will pay off and if the new exchange will be a success.
• Bitget is the first crypto exchange to launch copy trading in the spot market.
• Copy trading provides an opportunity for beginners to shadow an experienced trader and increase their chance of profitability.
• The feature also provides users with more transparency and flexibility as it disclses detailed information on the portfolio of experienced traders.
Bitget, a leading crypto derivatives exchange, recently announced that it would be the first exchange to launch copy trading in the spot market. This highly liquid, highly innovative feature provides users with a unique opportunity to increase their chance of profitability when trading crypto assets.
Copy trading is a great way for beginners to get into the cryptocurrency market. It allows users to “shadow” the portfolio of an experienced trader, allowing them to automatically copy their trading decisions. This removes the need for users to have to study the markets and analyze trading signals in order to make informed decisions, allowing them to instead focus on other aspects of their trading.
In addition to providing users with a greater chance of profitability, Bitget’s One-Click Copy Trade feature also provides users with more transparency and flexibility. By disclosing detailed information on the portfolio of experienced traders, users can make more informed decisions when deciding which trader to copy. And, if they decide to switch traders, they can do so with the click of a button.
Overall, Bitget’s One-Click Copy Trade feature is a great way for beginners to get into the cryptocurrency market. With the feature, users can access the portfolio of experienced traders, allowing them to increase their chance of profitability, as well as transparency and flexibility.