7 indicators every #BTC investor should be using to evaluate its network health 👇🏼
1. Daily Active Addresses

Here's why: Excellent proxy for user growth and useful for identifying periods of high-speculation.

Current Status: 👍🏼

DIY: @glassnode
2. Daily Total Tx Fees (USD)

Here's why: Perhaps the cleanest metric that shows the demand for Bitcoin block space.

Current Status: 👍🏼

DIY: @coinmetrics
3. % of BTC supply held for > 1 year

Here's why: Shows investor confidence and conviction in BTC as a store of value that rivals gold.

Current Status: 👍🏼 (near ATHs)

DIY: https://www.lookintobitcoin.com/charts/1-year-hodl-wave/
4. BTC Locked on Ethereum

Here's why: Good indicator for when BTC is being used in #DeFi and becoming a productive asset.

Current Status: 👍🏼 (>$2B locked)

DIY: @intotheblock
5. BTC Locked in Lightning

Here's why: Demonstrates Bitcoin's viability as a payment network.

Current Status: Long-term promise potentially but only modest growth in recent years

DIY: @BitMEX @defipulse
6. BTC held on exchanges

Here's why: Investors generally move coins onto exchanges when they're looking to sell.

Current Status: 👍🏼

DIY: @viewbasecom
7. Realized Cap

Here's why: Valuing each unit of supply when it last moved provides the aggregate cost basis for BTC holders.

Current Status: 👍🏼

DIY: @MessariCrypto @coinmetrics
Looking for more #BTC fundamentals? Subscribe to my #crypto analytics newsletter @OurNetwork__: http://ournetwork.substack.com/subscribe 
Our Network

Community-Driven Crypto Analytics

http://ournetwork.substack.com/subscribe
You can follow @spencernoon.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:
Those who think consciousness raising & movement building are disconnected, or even a distraction from electoral politics have not paid attention to the history of social change.In this thread, we
Read more
The 2020s will be known as the Remote Work decadeA few predictions of what is likely to emerge[ a thread ] Third Space: Office and Working from Home will
Read more
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I
Read more
By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.