• 17 July, 2024
News

On-chain Metric Suggests Bullish And Bearish Divergences In Top Crypto Assets; Do You Want To Know The Crypto Tokens?

As per Santimet there are various bullish and bearish crossovers discovered in various crypto assets that could influence the price in short term

On-Chain indicators are pointing towards various crossovers bullish and bearish in top crypto assets like Ethereum, Uniswap, Tether, and USD Coin and many more.  There are various metrics to consider from sentiment, positioning, network activity, network growth. 

Ethereum:

Ethereum (ETH) price rises toward $1,850 amid mixed On-chain metric signals. According to Santiment, a data analytics firm, the Ethereum Average Transaction Fee is at a current level of 0.7107, up from the previous day. The mean amount of coins per transaction sent to exchanges indicates the selling pressure. 

The amount of ETH withdrawn from centralized exchange on a seven-day moving average hit a new three-month high of 3,134.065ETH. The last time these levels were seen was in 2022, and the following weeks saw the price of the second largest cryptocurrency climb steadily.

As of writing, ETH/USD reads at $1,811, up 2.12% for the day. 

Uniswap

Uniswap, weekly volume catapulted the network into the seventh place among all BNB Chain DEXes, which overall posted a decrease in exchange activity of more than 40% in the past week.

Binance’s on-chain balance remains high, despite a US lawsuit. The exchange on-chain portfolio currently stands at $64 billion. USDT , BTC, ETH,BUSD, and BNB are Binance’s largest holding, accounting for nearly 81% of the total balance at the time of writing. 

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