Indicators for Virtual Currency (Indicators for the Surge in Virtual Currencies)
What indicators should be considered when analyzing virtual currencies? The mai
What indicators should be considered when analyzing virtual currencies? The main aspects to analyze are market capitalization, transaction volume, and market prices. A higher market capitalization reflects the trend in price changes, while an increase or decrease in transaction volume leads to greater price volatility. The market share of Bitcoin has risen to around 50%, and the trading volume of Ethereum continues to increase. Looking at the data, there is a significant correlation between the market capitalization of Bitcoin and other altcoins such as Ethereum. However, when considering the growth rate in transaction volume, Bitcoin holds a large market share. Therefore, it can be concluded that virtual currencies have a potential impact on the market.
Indicators for the Surge in Virtual Currencies
According to Cointelegraph’s analysis, the surge in the price of virtual currencies since January this year is mainly attributed to two indicators: 1. The amount of Bitcoin traded on Binance has exceeded the total circulating supply. 2. The daily active addresses of Ethereum are nearly 40% higher than Bitcoin. Based on data from CryptoQuant, the “BTC transfer count” has reached a new low since May, just 9 days ago. However, this trend has been continuing since February, with transaction volume almost doubling in the past week.
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