Smart Bitcoin

Bitcoin price is now just above price relative to the income model price

In November 2023, the amount of venture capital invested in cryptocurrency and blockchain projects was already at a new high since May. Most importantly, the month's result beat the previous month's figure by 95 percent. And this speaks to the obvious positivity within the coin industry.

Against the background of the activation of Ethereum users and the growth of commissions on the network, the rate of burning cryptocurrency as payment for transactions is also increasing. Over the past month, more than 22 thousand ETH have fallen out of cryptocurrency circulation. We are talking about the equivalent of more than 46 million dollars.

Bitcoin's halving cycle is 89% complete. Historically, at this time the price has been sideways, but immediately after the halving the long-awaited uptrend began. Therefore, now it is a bit early for growth to ATH, cyclically we need another 4-5 months.

Yesterday, Bitcoin's hash rate reached the 600 exahashes per second mark. The total computing power of the network of the first cryptocurrency has never been so large. So miners continue to actively connect to BTC mining. Obviously, until halving in the spring of 2024, this indicator will continue to grow.

During Bitcoin's rise above $34,000 tonight, almost half of the volume in BTC spot trading was generated on the OKX crypto exchange. This indicator is calculated among the five top trading platforms represented by Binance, Bybit, Kraken, Coinbase and OKX itself. Here's a chart from Kaiko.

This week, Bitcoin miners sold more than 20 thousand BTC, which was a record amount since April 2023. As analysts note, the activity of ASIC owners also affects the current drawdown of the coin market.

Total cost recorded in popular L2 chains

The shares of Bitcoin that remain inactive in wallets for at least 1, 2, 3 and 5 years are now at their all-time highs. This is a reminder that crypto lovers are buying and holding

Popular decentralized crypto exchange SushiSwap now also supports Consensys' Linea network. In general, the platform has more than enough supported blockchains - there are 29 of them in total.