Bitcoin Realized Cap Hits $106B Record as ‘Fear’ Returns to BTC Index

Coin Metrics’ popular indicator continues its relentless uptrend despite bearish sentiment creeping into Bitcoin markets.

2543Total views

41Total shares

Bitcoin Realized Cap Hits $106B Record as ‘Fear’ Returns to BTC Index

MARKETS NEWS

Bitcoin (BTC) set a new all-time high this week as bearish market sentiment failed to dent one metric’s march to $106 billion.

Data from on-chain monitoring resource Coin Metrics shows that as of June 11, Bitcoin’s realized cap stands at a record $106.26 billion.

Realized cap is “good for Bitcoin”

Realized cap is a different way of calculating Bitcoin’s value, an alternative to conventional market cap.

The number is computed by taking the price at which each Bitcoin last traded and the size of each trade, then multiplying them together.

Originally formulated by Coin Metrics, the indicator has grown in popularity among analysts and well-known cryptocurrency figures.

Responding to the latest highs, the Bitcoin Twitter account described the progress as simply “good for Bitcoin.”

Realized cap fell just slightly following the March crash, shedding a maximum of around $1 billion before continuing its upward trajectory.

This highlights its structure — in real terms, Bitcoin shed 60% of its price at the time, while overall, as Cointelegraph reported, more than 60% of the supply has not moved in over a year.

Bitcoin broke the $100 billion realized cap mark for the first time in August 2019.

Bitcoin realized cap historical chart

Bitcoin realized cap historical chart. Source: Coin Metrics

Fear and greed index drops 14 points in a day

Realized cap provides a noticeable contrast to the overall market mood this week. On Thursday, bearish signs culminated in a wave of exchange selling pressure that took 8% off BTC/USD in hours.

The move took its toll on the crypto fear and greed index, a dedicated measurement of trader attitudes.

Having lingered in “neutral” territory with a score of 53/100, the index suddenly fell 15 points to 38/100, marking a return to the “fear” zone.

Crypto Fear & Greed Index 1-month chart

Crypto fear and greed index one-month chart. Source: Alternative.me

Theoretically, the closer the index moves to zero, the more it suggests that traders are disproportionately bearish.

Earlier this year saw a record seven consecutive weeks spent in the lowest “extreme fear” category.

Source: cointelegraph.com

Comments

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry. The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling. Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move does not seem to be going over well with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a FAQ provided by Coinbase , for Canadian users, ...

Farm GRASS earn MONEY

Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets. One such groundbreaking avenue involves earning money by selling your unused internet connection. By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks. It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen. The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...

Crypto Ethone

Search This Blog