market data showed that last night and this morning, BTC and ETH rose in turn, with prices breaking through the $28,000 and $700 mark respectively, driving the total value of the cryptocurrency market to exceed $720 billion.
According to data from the Mars Financial Market Channel, Bitcoin rose strongly on December 26. The price broke through the two barriers of US$24,000 and US$25,000 on that day, and the total value of the token exceeded US$450 billion. Immediately afterwards, Bitcoin continued its upswing the next day, breaking through US$26,000, US$27,000, and US$28,000. The gains were pressing, and the market value rose by US$60 billion to US$510 billion.
As of 19:00 yesterday, Bitcoin officially stood on the line of $28,400. Subsequently, the trend of Bitcoin fell back and the price is currently hovering around 27,000 USD. After BTC entered the consolidation phase, ETH began to take over. The price rose rapidly from US$640 to US$688 at 22:00 yesterday, and broke through US$700 at 3 am today.
As BTC and ETH both break through important points and their prices rise sharply, what changes have taken place in the cryptocurrency market?
Bitcoin market value accounts for nearly 70% of the total value of global crypto assets
According to Coinmarketcap data, the total value of global cryptocurrencies currently exceeds US$720 billion, and the total value of Bitcoin is about US$500 billion, accounting for nearly 70%.
The average single transfer amount on the Bitcoin network reaches a new high in 16 months
Glassnode tweeted on the 27th that the Bitcoin network's 24-hour average single transfer amount reached a new high in 16 months, at $22,9843.47. The high point in the previous 16 months was on November 17 this year, at $228,740.33.
Large companies hold more than $30 billion worth of bitcoin
Decrypt pointed out that only a few companies in the world hold a total of 1.15 million bitcoins, worth more than 30 billion US dollars. According to the display, 29 companies including Grayscale, Block one, MicroStrategy, etc. hold 5.48% of the total Bitcoin supply.
Bitcoin Reserve Risk reaches a two-year high
According to Glassnode data, Bitcoin Reserve Risk reached a two-year high of 0.000089. The previous high was 0.000088. Reserve risk provides entry/exit recommendations by measuring risk and return. This indicator tends to attribute the value of Bitcoin to long-term holders who firmly hold the currency.
Among all legal currency rankings, Bitcoin's market value ranks 20th
According to FiatMarketCap data, the current Bitcoin market value ranks 20th among all listed legal currencies, up 4 places from the 27th.
In the global market capitalization asset rankings, Bitcoin surpasses Visa and ranks 11th
According to Asset Dash data, the current market value of Bitcoin exceeds US$500 billion. Compared with the stock market value of well-known companies, it ranks 11th, surpassing Visa.
Ethereum's average transaction fee increased by 1.5 times
The data shows that as of December 27, the average transaction fee of Ethereum reached 4.251 US dollars, an increase of 1.5 times from the previous month.
As of press time, Cocoa Finance shows that BTC is quoted at US$27,147, down 0.81% in 24 hours; ETH is quoted at US$706, up 1.32% in 24 hoursreference:https://blocking.net/29321/btc-halved-from-ma-z-score-reserve-risk-analyze-whether-it-is-a-good-time-to-enter-the-market/
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