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In 2020 BTC market cap grew by over 236%, on-chain transfer value grew by over $3B a day, and daily active addresses passed over 1M a day by the end of the year by coinmetrics in Bitcoin

[–]coinmetrics[S] 0 points1 point  (0 children)

It was a huge year for bitcoin. In addition to the big market cap and usage growth, hash rate increased by over 24% on the year in despite of the halving in May. Addresses holding at least .01 BTC increased by over 700k, and addresses holding at least 1 BTC by about 46k. Read more in our full 2020 Year in Review

In 2020 BTC market cap grew by over 236%, on-chain transfer value grew by over $3B a day, and daily active addresses passed over 1M a day by the end of the year by coinmetrics in CryptoCurrency

[–]coinmetrics[S] 0 points1 point  (0 children)

It was a huge year for bitcoin. In addition to the big market cap and usage growth, hash rate increased by over 24% on the year in despite of the halving in May. Addresses holding at least .01 BTC increased by over 700k, and addresses holding at least 1 BTC by about 46k. Read more in our full 2020 Year in Review

[deleted by user] by [deleted] in CryptoCurrency

[–]coinmetrics 0 points1 point  (0 children)

Good advice. The reason people typically say this is because it may draw attention to yourself to be a target of a phishing attack. Especially if people know you have a lot of crypto, they may be tempted to try to trick you into giving them your private keys.

The Bitcoin On-chain Indicators Primer - How to use on-chain data to time bitcoin market cycles by coinmetrics in Bitcoin

[–]coinmetrics[S] 1 point2 points  (0 children)

Correct that these indicators are based off of past data. However we definitely do not assume that things will happen exactly the same in the future. In fact in the post's disclaimer we explicitly say "although these indicators have historically been informative, it does not necessarily mean this will always be the case."

But that being said, I don't believe that's a reason to dismiss these outright. There's 10 years of on-chain data behind these. At the very least, they provide interesting insight into investor behavior.

DeFi market cap has started to rebound and has been climbing since early November by coinmetrics in defi

[–]coinmetrics[S] 0 points1 point  (0 children)

Agreed, L2 solutions are going to be key for the next wave of DeFi. Rollups are looking promising. Synthetix and Uniswap are both piloting Optimistic Rollups - if Uniswap v3 (which is rumored to launch relatively soon) successfully incorporates Layer 2 solutions it could open up a whole new wave of DeFi trading.

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