[Xangle Briefing] Existing investors, not the newcomers, are responsible for Bitcoin & Ethereum ‘s recent bull run.
https://xangle.io/mainnet-stats
The price of Bitcoin and Ethereum increased in part due to the fear of the everlasting corona virus, as suggested by the increased transaction among existing investors. New addresses & active addresses in Bitcoin and Ethereum both declined. This is in contrary to the early stages of the virus, where active and new addresses all increased.
According to the crypto disclosure platform Xangle, Bitcoin’s number of on-chain new addresses & active addresses (24H) has decreased by 13.2%, 9.16% and 0.32M and 0.61M respectively. Ethereum’s on-chain new addresses & active addresses (24H) decreased by 15.89%, 6.51%, and 90,000, 0.36M respectively.
On the other hand, other on-chain activity indicators like volume, number of transactions, and transactions over 1M USD in Bitcoin & Ethereum have both increased. This shows that trading by the existing investors contributed to an increase the price.
Bitcoin’s on-chain volume and transactions over 1M USD (24H) each showed 6,670.92M USD and 1,233 transactions, with a 17.4% and 48.2% increase respectively. Over the same period, Ethereum’s on-chain volume and transactions over 1M USD showed 349.38M USD and 49 transactions, with a 40.68% and 68.97% increase respectively.
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