According to a recent Cryptoquant post, the number of coin addresses depositing stable coins to all derivative exchanges has reached a new all-time high. The crypto community seems to be receiving this positively with 62% of the voters bullish on the report.
Read CRYPTONEWSLAND onFor CryptoQuant’s Woo Minkyu, “it would be implying that purchasing pressure is increasing greater than before OR more investors are getting engaged in derivative trading.”
Additionally, at the Fed’s eighth and last meeting of the year, Chairman Jerome Powell proposed another rate increase of 50 basis points (bps).
“The ultimate level of rates will need to be somewhat higher than thought at the time of the September meeting in the summary of economic projections.”- Fed Chair Jerome Powell.
On the other side, LTH SOPR just increased once again. This suggests that long-term Bitcoin owners have profited by selling their Bitcoin.
A ratio of spent outputs in profit at the start of the window (lived for more than 155 days) is known as the long-term output profit ratio.
To follow long-term investors, the adjustment was done by not taking into consideration the fluctuations of coins with 155 days or less of life. More long-term investors are selling at a profit when the value exceeds 1.
To identify changes more rapidly, the chart makes use of the Log Scale and EMA. Additionally, EMA16 is used because its 16-block resolution (about 15 minutes) is seen as being similar to that of 4-hour legs.
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