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Onchain Insights
The Chainlink Bull Run From a Blockchain Perspective
This is a portion of a newsletter from the IntoTheBlock team that focuses on weekly data insights about the crypto market.
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Hey onchainers,
Welcome to IntoTheBlock’s newsletter. We are trying to create a different newsletter for crypto fans. Not about news but about data and analytics. Every week, we are going to try to deliver valuable data insights about the crypto market.
The crypto market is down this week 7.27%. Bitcoin price decreased by 5.57% to $9,638.54 after reaching the $10,000 mark last year. Using our In/Out of the Money Around Current Price indicator (IOMAP), we see that there’s a strong level of resistance between $9,700 and $10,000, where 1.11m addresses bought 1.02m BTC at an average price of $9,848. In order for Bitcoin to reach $10,000 again, it needs to pass this selling wall.
The coin of the Week: Amazing bull run by Chainlink in 2020? The crypto-asset is 142.2% up this year, so we decided to compare it asset against Bitcoin using some of IntoTheBlock’s top metrics. And we are not talking about price, check the details below.
